Clock Tower Highly Endangered, Suffering Under Split Ownership

The McKinley Park neighborhood’s iconic clock tower in the Central Manufacturing District is one of Chicago’s most endangered buildings according to a recently released report from Preservation Chicago.

“The building is in a significant state of deterioration,” Preservation Chicago stated in its 2025 list of the Chicago 7 Most Endangered buildings. “Only the minimum necessary stabilization and safety measures are being taken.”

The clock tower, constructed in 1917 along West Pershing Road at South Damen Avenue, holds in its 11-story structure two massive water tanks that served fire protection needs for the Central Manufacturing District: the first planned industrial district in the United States.

Multiple Owners

Although the tower once also housed architectural and construction offices, it has been shuttered and derelict for decades.
Multiple owners of the property and structure is a complicating factor toward any redevelopment, said Ward Miller, executive director of Preservation Chicago.

Part of the property and structure is owned by the City of Chicago, and part by Chicago firm Klairmont Enterprises Inc. — one of a conglomeration that also includes Imperial Realty Company, a storied commercial real estate firm currently marketing the Klairmont-owned Central Manufacturing District buildings around the clock tower for sale.

Joined at the Hip

“Our ownership is joined at the hip,” said Alfred Klairmont, President and CEO of Imperial Realty Company. “It’s a very unusual arrangement.”

Klairmont Enterprises’ portion of the clock tower includes a slice of the building comprising the structure’s entire eastern elevation and the land adjacent to it. Records from the Cook County Clerk show Klairmont acquired the plot for $10 in a September 2006 tax sale by the City of Chicago.

One Owner Recommended

Alfred Klairmont said he did not know why the property plots around the clock tower were so irregular, or why the property line runs through the structure itself.

“Try to arrange for one owner, versus the two owners presently involved,” Miller recommended. “That would perhaps go far in finding a new steward and owner to take on the needed repairs and restoration of the property.”

Likely Expensive Renovation

“I’d like to see it renovated and made functional again,” Klairmont said. “The clock tower is a landmark for the area. Let the clock tower remain.”

Renovation costs are unknown, but would likely be costly, Miller said. “From an outward visual appearance of the current conditions, we would estimate the masonry, fenestration and clock repairs to be expensive.”

Chicago Landmark Designation

“Perhaps spend a few million dollars for a first-class structure, with large windows on each side and spectacular views of McKinley Park, the surrounding communities, and the downtown Chicago skyline,” Miller said, comprising “a reasonable investment for the right kind of owner.”

Miller also a recommended a Chicago Landmark Designation for the clock tower and surrounding historic Central Manufacturing District buildings to encourage development through tax incentives and city programs.

Rehab Versus Landmark

“The structure, along with the entire Pershing Road Central Manufacturing District, is already part of the National Register of Historic Places,” Miller said.

“When I wear my developer hat, I would not landmark the building, I would rehab it,” Klairmont said. He said his firm has discussed rehabilitation ideas with the city in the past, “but not recently.”

Conversion to Residential

Miller floated one idea to rehab the clock tower into a business incubator, hosting “a series of locally based organizations, and perhaps a series of start-ups, with their offices on each of the modest floor plates.”

As for redevelopment of the surrounding Central Manufacturing District buildings currently for sale by Imperial Realty Company, “I think the best use is renovation to residential: multi-family residential,” Klairmont said.

Construction Challenges

He noted the challenges of converting the massive, matching industrial buildings in the Central Manufacturing District, including the six seven-story buildings surrounding the clock tower that Imperial Realty Company is marketing for sale.

However, “we’re very encouraged to see all the positive development in the neighborhood,” Klairmont said. “The future looks bright for the area with the potential conversion of these industrial buildings.”

Landmark-In-Waiting

Miller recommended that local residents, elected officials and groups like the McKinley Park Development Council activate and save the clock tower.

“This is a McKinley Park landmark-in-waiting,” Miller said. “Enough voices in the community … would be very beneficial towards a good preservation solution and outcome.”