The building occupies the site vacated by the Chicago Sun-Times, one of the city's two major newspapers, and its location within the River North Gallery District places it in a neighborhood that has had a high concentration of art galleries since the 1980s. The tower sits at 401 North Wabash Avenue in the River North Gallery District, part of the Near North Side community area of Chicago. The site of the tower was occupied by the former Chicago Sun-Times building (low-rise building at left). The spa is one of six with at least a four-star Forbes rating in the Chicago area in 2015. Sixteen was one of five restaurants in Chicago with at least a Michelin Guide two-star rating in 2016 and one of three five-star Forbes-rated restaurants in the city until it closed in 2018. The building topped out in late 2008 and construction was completed in 2009.

The 339-room hotel opened for business with limited accommodations and services on January 30, 2009, then full accommodation and services on April 28. The design of the building includes, from the ground up, retail space, a parking garage, a hotel and condominiums. It surpassed the city's John Hancock Center as the building with the highest residence (apartment or condo) in the world, and briefly held this title until the completion of the Burj Khalifa.

When topped out in 2009, it became the seventh-tallest building in the U.S.

Trump announced in 2001 that the skyscraper would become the tallest building in the world, but after the September 11 attacks that same year, the architects scaled back the building's plans, and its design underwent several revisions. The building received publicity when the winner of the first season of The Apprentice reality television show, Bill Rancic, chose to manage the construction of the tower over managing a Rancho Palos Verdes based 'Trump National Golf Course & Resort' in the Los Angeles metro area. It is next to the main branch of the Chicago River, with a view of the entry to Lake Michigan beyond a series of bridges over the river. Bovis Lend Lease built the 100-story structure, which reaches a height of 1,388 feet (423.2 m) including its spire, its roof topping out at 1,171 feet (357 m). The building, named for Donald Trump, was designed by architect Adrian Smith of Skidmore, Owings and Merrill.

The Trump International Hotel and Tower is a skyscraper condo-hotel in downtown Chicago, Illinois.

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