Magazine content is available exclusively for TIME subscribers.Real Estate: Profits in Vertical City
LIVE UPTOWN . . . WORK DOWNTOWN. YOU CAN COMMUTE BY ELEVATOR IN SECONDS. As its full-page newspaper ads suggest, Chicago's 100-story John Hancock Center is a most unusual building. The world's second tallest, the 1,107-ft.-high skyscraper* is designed, in effect, as an apartment house atop an office building. A forerunner of the multipurpose "vertical city" of the future, it also looks like a financial winner. As the first tenant moved in last week, the owner, Boston-based John Hancock Mutual Life Insurance Co., predicted that by next year the building will be producing a "respectable return" of about $7.5...
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