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Just down the block, there is the High Roller.
When built (2014) the High Roller was the World's tallest observation wheel, at 550 ft to the top.
The UAE, not to be outdone, built the Ain Dubai in 2021, which tops out at 820 ft. (closed for maintenance until 2023. But it was still closed until further notice as of Feb 2024).
I guess that makes the High Roller the highest operating observation wheel.