Sterick Building

The Sterick Building is a historic skyscraper in Memphis, Tennessee. It was designed by Wyatt C. Hedrick & Co., and was completed in 1929—its name is a portmanteau of the original owners' names, Texas Governor Ross S. ''Sterling'' and '' Wyatt C. Hedrick''. It is a gothic-style tower, 111 m (365 ft) tall with 31 floors, two of which are below grade. When it opened it 1929 it was noted as the tallest building in the American South and remained so until 1957. It stands at the corner of Madison Avenue and North B.B. King Boulevard.

History

Once called “the Queen of the South” and “the most complex, the most fabulous building in Memphis,” the Sterick Building is clad in limestone and had a crown with stone spires topped with a green tile roof; its own bank, pharmacy, barber shop, and beauty parlor; and stockbrokers' offices. It was also the regional headquarters for the FBI and Chrysler. The first three floors were made from granite and limestone. From the lobby, which was said to “rival the beauty of a Moorish castle,” its eight high-speed elevators ferried the building's 2,000+ workers and guests to the upper floors, including the Regency Room restaurant on the top floor.

In the 1950's, Sterick suite 1916 was the office location of Stars, Inc. principal, Bob Neal, who managed famous musicians, Elvis Presley and Johnny Cash, among others. Neal established Elvis Presley Enterprises, purchased The Sterick and made significant cosmetic and systems upgrades, including adding air conditioning.

In 1994, some shots of the movie ''The Client'' were taken in and around the building.

Decline

As new, more modern office buildings were built in downtown Memphis in the 1960s, the building began to lose tenants and—despite a number of alterations— (including being repainted from its original color to yellow and tan in 1982), it has been left vacant since 1986. It was added to the National Register of Historic Places in 1978.

Legal entanglements regarding the ownership of the building itself complicated and prevented potential redevelopments over the years as The Sterick was a land lease property wherein the original builders leased the land the building stands on for 99 years without buying the land outright. The land and the building were owned separately. The land was owned by heirs of Napoleon Hill and the building's lease was held by Equitable Life Insurance Company. The original lease of land for the property, dating from 1926, required the $1,500 monthly payment to be paid in gold coin “of standard weight and fineness or its equivalent.” An unsuccessful 1975 lawsuit by the land owners sought to recalculate the rent at the then-current price of gold, or roughly $13,500 per month.Lauderdale, Vance. When the Sterick Building Was Supreme. Ask Vance. November 25, 2008.
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Recent events

Increasing residential growth in Downtown Memphis has made the Sterick Building, with its height and views over the Mississippi River, a candidate for residential conversion. Preservationists have also noted the possibility of tax credits and possible conservation easements for developers.

In March 2023, Constellation Properties, purchased the Sterick Building. This acquisition also resolved longstanding issues related to a ground lease that had previously separated the ownership of the building from the land it occupies.

Constellation plans to revitalize the historic skyscraper, aiming to restore its status as a central feature of the Downtown Memphis skyline.

Gallery

Image:Sterickbuilding.jpg, Backside view of the building, from Madison Ave.
Image:Sterickbuilding-entrance.jpg, Boarded-up entrance and first floor
Image:Sterickbuilding-front.jpg, Front view

See also

* National Register of Historic Places listings in Shelby County, Tennessee

References

External links

''Sterick Building at Night'', Rhodes College Digital Depository

{{Registered Historic Places

Skyscraper office buildings in Memphis, Tennessee
Office buildings on the National Register of Historic Places in Tennessee
Commercial buildings completed in 1928
Office buildings completed in 1928
1928 establishments in Tennessee
National Register of Historic Places in Memphis, Tennessee