[3][4] The site of the building along Broad Street was previously the location of the Forrest Theater and the "Yellow Mansion" (also known as the Dundas Lippincott House).

[3] The building became premier office space in the center of the city, serving as the home of major law firms among other tenants.

[7] In 1953, steel and concrete penthouses were built at the back of the building to house air conditioning equipment.

In December of that year, Fidelcor announced that the Al-Tajir Foundation, a real estate investment company owned by Mahdi Al Tajir, had agreed to buy Fidelity Building Corp. for US$63.5 million.

[10] Shortly after taking over, First Union spent millions of dollars renovating the facade and interiors and modernizing the mechanical systems.

In April 2008, American Financial Realty Trust sold the remainder of the building to SSH Real Estate and Young Capital for US$57.7 million.

Wachovia became the building's largest tenant after merging with First Union Corporation early in the decade.

The distinctive features of the center are two 55 feet (17 m) recesses on the east and west sides of the building.

The arch closest to Sansom Street is decorated by two figures with cornucopias to represent abundance.

[3] The Wells Fargo Building's interiors include a 2½-story banking hall featuring six 58-ton steel girders that support the skyscraper's structure.

The statue depicts semi-nude male and female representations of day and night clasping hands under a clock to symbolize eternity.

Below that are pictures showing William Penn's treaty with the Indians, George Washington's Farewell Address to Congress, the proclamation of the Declaration of Independence, the Philadelphia Convention, the drafting of the Declaration of Independence, Benjamin Franklin's printing office, Betsy Ross exhibiting the United States flag, and Caesar Rodney's ride from Delaware.

The border of the window contains portrait busts of notable American Revolution-era Philadelphians: John Bartram, George Clymer, Robert Morris, David Rittenhouse, Benjamin Rush, and James Wilson.

The building's characteristics are its tripartite system of a base, shaft, and capital, the treatment of the skyscraper as a tower, and the use of setbacks.

[19] Past tenants include the law firms Morgan Lewis & Bockius and Pepper Hamilton & Sheetz and offices for the Westmoreland Coal Company.

Called the Midday Club, it was intended "to provide in the heart of the financial district, removed from the noise and activity of the street, a place where businessmen can dine in a restful atmosphere with their business associates".

[20] The lobby held a branch of the Wells Fargo History Museum; its exhibits include a stagecoach, telegraph equipment, historic clothing and currency.