[2] This building also includes 50,000 square feet (4,600 square meters) of classroom space at the bottom to replace two small classroom buildings belonging to Loyola University Chicago.

Until November 2011, The Clare was owned and operated by the Franciscan Sisters of Chicago,[3] a religious organization that runs senior care facilities throughout the Midwest.

[4] On November 15, 2011, The Clare filed for bankruptcy protection from creditors after failing to make debt payments.

In 2016, The Clare underwent extensive renovations, including transforming the Grand Lobby, adding a Bistro Café to the ninth floor, overhauling the 53rd floor into a third dining venue called The Abbey on 53, and upgrading the layout and décor of the Grafton Dining Room.

In early 2020, The Clare was sold to Des Moines, Iowa–based LCS, which is the second-largest operator of senior living communities in the United States.