Imagine a building sliced in half and rejoined. This is the Commercial Exchange Building. It stands proudly on the corner of 8th and Olive Streets.
The Commercial Exchange Building has a unique history. It is more than just an office tower. Let’s delve into its past.
Completed in 1924, the Commercial Exchange Building was designed by Walker and Eisen. They were well-known Los Angeles architects. The building represents the Beaux Arts style. This style was popular in the U.S. at the time.
However, the growing car culture changed things. In 1929, the city decided to widen Olive Street. This meant taking five feet from the building’s west side. The Commercial Exchange Building lost its bay windows and cladding.
George Kress stepped in to save the day. Kress was a house-mover without formal engineering training. He devised a plan to move the building.
In 1935, Kress removed eight feet from the building’s center. This section contained a staircase and storerooms. Then, using jacks and tracks, he moved the western side. He rejoined it to the other half. Seventy-five men worked on this delicate operation. Amazingly, workers inside continued their daily routines.
The two halves of the Commercial Exchange Building were reunited in nine hours. No one was injured. Reportedly, not a single window broke. The Los Angeles Times reported the cost was $60,000.
Edgar Rice Burroughs had his publishing offices here. He was the author of Tarzan. The Owl Drug Company also had offices in the Commercial Exchange Building.
For decades, the Commercial Exchange Building sat vacant. Developers rejected it due to costly renovations. But in 2013, things changed.
In 2016, the Commercial Exchange Building became the Freehand Hotel. It features a rooftop bar and swimming pool. The Sydell Group developed it into a trendy hotel.
The adaptive reuse of the Commercial Exchange Building is remarkable. It adds to the city’s appeal. The restored Commercial Exchange neon sign shines brightly. It is one of the tallest in Los Angeles.
The Commercial Exchange Building was declared a Los Angeles Historic Cultural Landmark in 2017. Spectra Company restored the facade. They also replicated historic terra-cotta and brickwork.
So, remember the Commercial Exchange Building. It is a testament to innovative engineering. It now welcomes visitors as a vibrant hotel. Its story is a slice of Los Angeles history.