By Kevin Haas
Rock River Current
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ROCKFORD — One of downtown’s most iconic buildings is now the Iconic Building.
But if Iconic Energy CEO Teague Dickey’s vision comes to fruition, the solar energy company’s headquarters will be just one part of the revival of the former News Tower.
Iconic purchased the Rockford Register Star News Tower, 99 E. State St., from a subsidiary of its parent company, Gannett, for $1.7 million in December 2021. Now, it’s moving forward with a $22 million redevelopment plan that includes a restaurant, cafe, business offices, gym and riverwalk. The building will also be outfitted with solar panels.
“There’s going to be a heartbeat — I’m calling it — put back downtown,” Dickey said. “We believe this energy coming downtown is really going to help.”
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Dickey, a Rockford native, said some people warned him against tackling a risky redevelopment project. But it was important for him to grow his company in his hometown. He also wants to add to the downtown momentum that includes the riverfront hotel, the UW Health Sports Factory and the future Rockford Public Library under construction.
“Not many businesses like ours are downtown. Usually it’s far away near an interstate,” Dickey said. “I’ve seen the movement downtown. … It’s happening and it’s going to happen with or without me. I think I can help our town get where it’s going.”
Moving in
Dickey said it’s too early to reveal the tenants coming to the 93-year-old building. Construction is expected to last about 18 months with a target completion in late 2024.
He said the restaurant will include dockside dining and a small banquet space. There will also be Peregrine Cafe, named for the official city bird that nests on a ledge of the eighth floor, that serves locally sourced pastries and drinks.
There will be offices for accounting and insurance companies, attorneys, a technology business and a small warehouse space. A gym on site will include free access for tenants.
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Rock Valley College continues to lease second-floor space for its downtown campus, and there’s still space on the riverfront and in the tower available for leasing.
Jennifer Furst, whose business Furst Staffing operates in the former PNC Bank building across the Rock River, has watched out her office window as renovations began.
“This is such an iconic building for our downtown,” Furst said. “It has so much potential and I’m excited to see someone’s vision for what that could do.”
Furst moved into her downtown offices in October 2019. She said she’s excited to see the riverfront restaurant and new energy the revived building can pump into downtown.
“This is a significant investment in a significant building,” she said. “I think it adds a little stability to our downtown and what we can experience when we’re down here.”
Dickey said Iconic will also add some curb appeal to the front entrance, removing the large flower pots and installing a 14-foot tall water feature.
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The main lobby would be rebuilt with a luxurious look that includes a grand chandelier. Dickey imagines it will be a popular spot for photos for high school dances and other life events.
“I’ve always wanted to be a part of or work out of a facility (where people) walk in and say, wow, this is beautiful,” Dickey said. “This beautiful grand staircase and historic element that we’re bringing back to the building I think is going to be a really nice attraction for downtown.”
He said there will be a valet that shuttles tenants to the building from the satellite parking lot near the Jefferson Street bridge, and there will be complimentary onsite electric vehicle parking stations.
He also wants to extend the short riverwalk between East State and Chestnut streets.
History and future
The News Tower was designed by Pecatonica-born architect Jesse Barloga and built in 1930. It was modeled after Tribune Tower in Chicago, which also no longer houses a newspaper. Tribune Tower was sold in 2016 and is now luxury residences.
The Register Star has moved its newsroom operations to the Talcott building at 321 W. State St.
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Dickey said there is also brick tuckpointing and other roof and exterior work that needs to be done. He said it will be done to preserve the property’s historic nature and in harmony with the peregrine falcons who nest there.
“The building is built like a tank. It’s incredibly strong,” Dickey said. “It’s amazing the strength and integrity of this building and structure. I’ve never really seen anything like it.”
Other quirks of the historic building, such as the eight-story fire slide, will remain.
“A lot of historic elements we’re keeping just the way they are as much as we can,” Dickey said.
Iconic Energy employs about 45 people and aims to have 75 workers by the end of the year. When the renovated building opens, it will have about 240 people employed across the different tenants, Dickey said. But the Register Star at its prime employed hundreds more.
“I’m going to try to get the numbers back to what it once was and help improve downtown businesses,” he said.
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Dickey said he was inspired in part by Dietmar Goellner, the president and CEO of Hennig, a global manufacturing company based in Machesney Park. Dickey said that he, like Goellner, wants to grow his company at home.
“With this building, this property, it’s a huge undertaking,” Dickey said. “But I believe in it. …
“When you believe in something wholeheartedly and you’re devoted to it, chances of success are really high.”
This article is by Kevin Haas. Email him at khaas@rockrivercurrent.com or follow him on Twitter at @KevinMHaas or Instagram @thekevinhaas