Designed by famed architect Isaac Taylor, the National Bank of Commerce building became one of the tallest buildings in St. Louis when it was completed in 1901. The bank was formed in 1857 as the Building and Savings Association and became one of the leading financiers in the region. As the nature of banking changed in the second half of the 20th century, the bank sold the building and it became known as the Chamber of Commerce Building. The building became too expensive to maintain in the 1970s as newer buildings were constructed and many companies abandoned the city core for modern office buildings throughout the city. The building was demolished in 1977 in order to create a parking lot despite the efforts of preservationists. After several years of sitting empty, construction began on a modern office building, known today as St. Louis Place.