This chapter describes the impact of the Great Depression on the Chicago real estate market. The gravity of the Depression can be understood by what was not built. For instance, Walter Ahlschlager had planned a massive complex of office towers, showrooms, lodging, and leisure facilities known variously as Crane Tower, Chicago tower, and the Apparel Mart. Announced by a group of apparel executives in June 1928, the scheme proposed a seventy-five-story setback tower atop a base that was to span railyards between the extended Randolph Street and Wacker Drive. However, nothing more was heard of the project after the October crash. The idea of a city rising above the Illinois Central yards attracted other schemes but no serious investment until after 1950.
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