That building was the Foshay Tower, completed in 1929, immediately before the stock market crash that set off the Great Depression of the 1930s. Background information can be found here and here.
The Foshay Tower's shape was inspired by the Washington Monument in Washington, DC. Obviously, a functioning office building required different proportions than those of the monument, so the concept was somewhat flawed.
Currently the structure houses a hotel.
An early photo.
The tower under construction seen from the same viewpoint.
An early color (or colorized) image.
An aerial view possibly taken when the Foshay was new. Nowadays it is dwarfed by taller skyscrapers.
A later, closer aerial view of the tower.
Early image of a reception and waiting room.
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