The Chicago Board of Trade Building isn’t just another skyscraper. It’s where the rhythm of global markets once pounded through steel and stone, where traders shouted orders over the roar of open outcry, and where architecture didn’t just house business-it became part of the trade itself. Opened in 1930, this 60-story tower at 141 West Jackson Boulevard still stands as one of the most iconic symbols of American financial history. But what makes it truly unforgettable isn’t just its height. It’s the way the building was designed to serve the chaos of the trading floor-and how that chaos still echoes in its walls.
The Trading Floor That Moved the World
Before electronic screens and algorithms, prices for corn, wheat, and soybeans were set by human voices in a massive, open room. The CBOT trading floor was a spectacle: over 2,000 traders in colorful jackets, waving hand signals, yelling bids and offers. The noise was deafening. The energy was electric. This wasn’t just a room for buying and selling-it was a living, breathing marketplace.
The original trading floor, built in 1885, was replaced in 1930 with a larger, more modern space. The new floor was 112 feet wide and stretched 220 feet long, with a 100-foot-high ceiling. That height wasn’t for show. It let sound bounce, helped air circulate, and gave traders room to move. The floor was made of teak wood, laid in a herringbone pattern to reduce slipping. The walls were lined with brass rails and glass-enclosed booths where brokers could watch prices from above.
At the center stood the Central Trading Pit-a sunken, octagonal arena surrounded by seven tiers of walkways. Traders stood shoulder to shoulder, sometimes five deep. Each pit handled a different commodity: wheat in one, soybeans in another, pork bellies in a third. The system worked because everyone knew the signals. A raised palm meant sell. A fist meant buy. A hand over the head meant ‘I need more time.’
Architecture Built for the Market
The building’s design was led by architect William Holabird, of the firm Holabird & Roche. They didn’t just build a tower-they built a machine for trading. The structure used a steel frame, which allowed for taller floors and wider windows. But the real innovation was how the building’s shape responded to the trading floor’s needs.
The lower floors were massive, with thick load-bearing walls to support the weight of thousands of people and the reinforced concrete floor of the pit. Above that, the tower narrowed into a sleek, stepped-back silhouette. This wasn’t just style-it was structural efficiency. The setbacks reduced wind load and gave the building a sense of upward motion, mirroring the optimism of the market.
Outside, the building’s facade is a masterpiece of Art Deco. Zigzagging lines, geometric patterns, and stylized motifs of agriculture and industry cover the stone. A 25-foot-tall statue of Ceres, the Roman goddess of agriculture, stands atop the building. Her outstretched arms hold sheaves of wheat and corn, symbolizing the CBOT’s roots in commodity trading. The statue, cast in bronze, weighs over 1,200 pounds and has weathered Chicago’s winters for nearly a century.
The lobby is just as striking. Marble floors, bronze elevator doors, and a coffered ceiling with sunburst patterns create a sense of grandeur. It’s a space designed to impress. Banks, brokers, and investors walked in here knowing they were entering a temple of commerce.
Why It Still Matters
The trading floor closed in 2020. Electronic trading had taken over. But the building didn’t fade. It was preserved. In 2023, after a $120 million renovation, the historic trading floor reopened-not as a working market, but as a public exhibit. Visitors can now walk the same teak floor, stand in the pit, and hear recordings of the old shouts. Audio stations replay the sounds of 1987, when traders were screaming about the stock market crash. You can see the original hand signals on wall displays, learn how a soybean contract was traded, and even try a simulated trade.
The building’s preservation is rare. Most financial centers from the 1930s were torn down or gutted. The CBOT survived because people understood its value. It’s not just a building. It’s a record of how markets worked before screens. It’s proof that architecture can capture human behavior.
The Legacy in Concrete and Steel
The CBOT Building is listed on the National Register of Historic Places. It’s also part of the Chicago Landmarks list. But its real legacy isn’t on paper-it’s in the way it shaped how we think about financial spaces. Other exchanges tried to copy its design: the New York Mercantile Exchange, the London International Financial Futures Exchange. None matched its scale or its soul.
Today, the building still houses offices, law firms, and financial services. But the heart of it-the trading floor-is now a museum piece. And it’s working better than ever. Thousands visit each year. Students come to study economics. Tourists take photos under Ceres. Engineers marvel at the load-bearing design. Historians trace the evolution of global trade.
What’s remarkable is that the building never stopped being relevant. It adapted. It held on. It didn’t just survive the shift from human to digital trading-it turned its history into a lesson. The same hands that once signaled for a bushel of wheat now point at screens. But the rhythm of the market? That’s still here.
What Makes It Different
There are older buildings in Chicago. There are taller ones. But few combine function, beauty, and history like this one. The CBOT Building doesn’t pretend to be something it’s not. It doesn’t hide its past. It wears it proudly.
Compare it to the Chicago Mercantile Exchange (CME) Tower, built in 2004. It’s modern, sleek, and efficient. But it has no trading floor. No pits. No noise. No human chaos. The CBOT Building has all of that-and still does, in preserved form.
It’s a reminder that financial systems aren’t just about numbers. They’re about people. And sometimes, the best way to honor them is to leave the room exactly as it was.
Is the Chicago Board of Trade Building still used for trading?
No, physical open outcry trading ended in 2020. All trading now happens electronically through the CME Group, which absorbed the CBOT. But the historic trading floor has been preserved and reopened as a public exhibit, where visitors can walk through the original pit and learn how trading worked before computers.
Who designed the Chicago Board of Trade Building?
The building was designed by the architectural firm Holabird & Roche, led by William Holabird. They were known for their early use of steel-frame construction and Art Deco detailing. The 1930 building replaced an earlier 1885 structure and was one of the first skyscrapers built specifically for commodity trading.
What is the statue on top of the building?
The statue on top is Ceres, the Roman goddess of agriculture. She stands 25 feet tall, weighs over 1,200 pounds, and is made of bronze. Her hands hold wheat and corn, symbolizing the building’s role in agricultural commodity trading. The statue was installed in 1930 and has been restored twice since then.
Can the public visit the trading floor?
Yes. After a $120 million renovation completed in 2023, the historic trading floor is open to the public as part of a free exhibit. Visitors can walk the original teak floor, view the pit from the walkways, and interact with displays explaining hand signals, contract types, and the history of open outcry trading.
Why is the trading floor shaped like a pit?
The sunken, octagonal pit design allowed traders to stand in a central area where everyone could see and hear each other. The surrounding tiers gave brokers and supervisors a clear view of activity below. This layout maximized communication in a time before microphones or screens. It also helped contain the noise and crowd, making the floor safer and more efficient.