Located in what was the central business district, it was the city's first skyscraper when it opened in March 1925.

By 1920, Waukegan, Illinois had grown to a small city with a population nearing 20,000, a 19.6% increase over the previous decade.

The Waukegan National Bank Corporation was founded in 1914 to provide capital to the growing population.

However, the bank quickly outgrew its original three-story headquarters at the corner of Genesee and Washington Streets.

[2] The original tenants were the Waukegan National Bank, the Public Service Company of Northern Illinois, and a Walgreens.