Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Wrigley Building May Go Up For Sale
The owners of Chicago’s famous Wrigley Building are reportedly considering marketing the structure for sale, likely for more than $200 million.
BDT Capital Partners and their partners in ownership have interviewed sales brokers, according to a Chicago Tribune report. BDT, Zeller Realty Group and Groupon co-founders Brad Keywell and Eric Lefkofsky acquired the building for $33 million in 2011. That group bought the two towers from Wm. Wrigley Jr. Company, which built the structure in the early 1920s.
Its clock tower is the Wrigley Building’s most prominent feature.
Most of the office space in the 472,000-square-foot building is leased, though two ground-floor retail spaces are vacant. The current owners spent an estimated $70 million renovating the property. They opened the walkway between the two towers to attract new retail tenants, and demolished and redeveloped several floors of office space.
The owners did not comment on the sale possibility.
Get Chicago News in 150 WordsFor comments, questions or concerns, please contact Dave Sorter
- ◦Sale/Acquisition
