Chicago Dock and Canal Company

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The Chicago Dock and Canal Company is a company established by William B. Ogden in 1857, which constructed civil works projects along the Chicago River. It currently operates as an equity oriented real estate investment trust.

History[]

The company was established in 1857.[1] One of the major investors involved in its founding was former Chicago mayor William B. Ogden, who received help from his lawyer, Abraham Lincoln, in establishing the company.[1][2] Odgen successfully worked Lincoln to gain titles to river and lakefront properties.[2]

In 1861,[3] the company constructed the Ogden Slip.[4]

Ogden, who had no children, left a large share of the company to his niece Eleanor Wheeler after his 1877 death,[5] who married Alexander C. McClurg.[6]

The company was the plaintiff in the 1913 United States Supreme Court case "Chicago Dock & Canal Co. v. Fraley".[7]

The company was owned by descendents of family of William B. Ogden into the 1980s.[1] In 1962, the company reconstituted itself as a real estate trust.[5] In the 1980s, the company began making the land they owned available for residential and commercial development.[8] They partnered with the real estate arm of Equitable Life Assurance Society of the United States to redevelop their land in the vicinity of the Ogden Slip as .[1] This arrangement with Equitable had been in the works since the 1960s.[9] This was a multi-billion dollar megadevelopment.[1]

The company, officially, continues to act as a Chicago-based equity oriented real estate investment trust.[10] However, in functionality, it was abosorbed by Daniel McLean's in 1987.[11]

References[]

  1. ^ a b c d e Kamin, Blair (18 October 2018). "An amazing transformation off the Mag Mile? Not so fast". graphics.chicagotribune.com. Chicago Tribune. Retrieved 4 January 2022.
  2. ^ a b "Portrait of William B. Ogden". www.encyclopedia.chicagohistory.org. The Electronic Encyclopedia of Chicago (Chicago Historical Society). 2005. Retrieved 4 January 2022.
  3. ^ Engineers, United States Army Corps of (1915). "A Historical Summary Giving the Scope of Previous Projects for the Improvement of Certain Rivers and Harbors". U.S. Government Printing Office. p. 1942. Retrieved 4 January 2022.
  4. ^ "Ogden Slip (Chicago Dock and Canal), 1968". www.encyclopedia.chicagohistory.org. Retrieved 4 January 2022.
  5. ^ a b McKinney, Megan (September 1, 2019). "William Ogden Dynasty in Chicago | Classic Chicago Magazine". www.classicchicagomagazine.com. Classic Chicago Magazine. Retrieved 4 January 2022.
  6. ^ McKinney, Megan (March 13, 2021). "The City's Earliest Enduring Dynasty". www.classicchicagomagazine.com. Classic Chicago Magazine. Retrieved 4 January 2022.
  7. ^ "Chicago Dock & Canal Co. v. Fraley, 228 U.S. 680 (1913)". supreme.justia.com. Justia Law. Retrieved 4 January 2022.
  8. ^ Seligman, Amanda (2005). "Near North Side". www.encyclopedia.chicagohistory.org. The Electronic Encyclopedia of Chicago (Chicago Historical Society). Retrieved 4 January 2022.
  9. ^ "June 26, 1961 -- Ogden Slip Real Estate to Be Developed ... Sometime | Connecting the Windy City". www.connectingthewindycity.com. June 26, 2020. Retrieved 4 January 2022.
  10. ^ "Chicago Dock & Canal Trust". www.bloomberg.com. Retrieved 4 January 2022.
  11. ^ Jepsen, Cara (11 October 2001). "This Land Is Whose Land?". Chicago Reader. Retrieved 4 January 2022.
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