Chairman’s Letter

Welcome to The Prime Group, Inc. We are truly honored that you are exploring our company and discovering what has driven our success for over four decades. Since our founding in 1982, we have been committed to excellence in owning, operating, and developing remarkable commercial and residential real estate.

From the outset, The Prime Group, Inc. has been driven by a bold vision: to create exceptional spaces that stand the test of time. This commitment to excellence led the company to pioneer new frontiers in real estate development. The Prime Group was instrumental in establishing the factory outlet mall concept, becoming the largest owner/developer in the United States before the portfolio became part of Simon Property Group. Recognizing a need for innovative senior living solutions, The Prime Group also spearheaded the luxury senior housing industry with the founding of Brookdale Living Communities, Inc. Brookdale went public in 1997 and is now the largest owner/operator of senior housing in the United States, a testament to The Prime Group's legacy of innovation and market leadership.

Over the years, The Prime Group has grown into a leading force in the industry, developing office buildings, luxury high-rises, and resort communities, always with an emphasis on top-notch planning, world-class architecture, and timeless design. We believe that quality should be a hallmark of our projects, proving that it doesn’t have to come at a premium.

Our commitment to architectural innovation and excellence is evident in our landmark developments, including 77 West Wacker and 181 South Dearborn (Citadel Center), which have become defining features of downtown Chicago. We are proud to have played a pivotal role in rejuvenating the city's hospitality sector with projects like the J.W. Marriott Hotel and the Residence Inn Chicago Loop. Currently, we are advancing major developments including the RIU Grand Plaza Hotel, the conversion of the former Conrad Hotel into a Residence Inn, and the transformation of the BMO-Harris office campus at 111 West Monroe into a dynamic mixed-use residential and hotel space. Our most recent endeavor is the acquisition and redevelopment of the James R. Thompson Center, soon to be the Midwest headquarters for Google.

Our success is rooted in our dedication to:

• Innovative and adaptive re-use strategies: Breathing new life into historic buildings, like those in the La Salle Street Financial District, and transforming them into luxury hotels and residences.

• Sustainability, technology, and innovation: Ensuring our projects are not only efficient and eco-friendly but also set new industry standards.

• Cost-effective financing: Pioneering the use of tax-exempt housing bonds and bond pooling to enhance credit efficiency.

• Human capital: Our exceptional team, with over 250 years of collective experience, brings expertise and passion to every project.

• Community involvement: We are dedicated to engaging with and supporting the communities where we work through philanthropic and civic efforts.

Thank you for taking the time to learn about The Prime Group, Inc. We invite you to explore our work further and join us as we continue to shape the future of real estate.