Water Tower Place is a large urban, mixed-use development comprising a 758,000 sq ft shopping mall and 74 story skyscraper in Chicago, Illinois. The complex is located at 835 North Michigan Avenue, along the Magnificent Mile. It is named after the nearby Chicago Water Tower.Originally conceived in the late 1960s by the Mafco Company, the skyscraper was eventually built in 1975 by Urban Retail Properties, a company led by Philip Morris Klutznick and his son Thomas J. Klutznick. The project received a J.C. Nichols Prize from the Urban Land Institute in 1986. The tower section is a 74-story 859 foot (262 m) reinforced concrete slab, faced with gray marble, and is the eighth tallest building in Chicago and the twenty-sixth tallest in the United States. When built, it was the tallest reinforced concrete building in the world. It contains an award winning Ritz-Carlton hotel, luxury condominiums, and office space and sits atop a block long base containing a highly successful, atrium-style retail mall that fronts on the Magnificent Mile. The building's most famous full-time resident is Oprah Winfrey Having bought a $6,000,000 condo on November 28, 2006, Oprah says she is planning to eventually sell her residence in Water Tower Place, according to the Chicago Sun Times.