Pursuits
Blackstone to Buy Chicago’s Willis Tower for $1.3 Billion
The glass balcony at the skydeck of the Willis Tower in Chicago.
Photographer: Tim Boyle/BloombergThis article is for subscribers only.
Blackstone Group LP agreed to buy Chicago’s Willis Tower, the second-tallest building in the U.S., and plans to upgrade the retail and observatory space in a bet on growth in the city.
The price was $1.3 billion, a record for a Chicago office building, according to Blackstone executives. The sellers of the 110-story skyscraper, formerly known as Sears Tower, are a group including New York-based investors Joseph Chetrit and Joseph Moinian, and American Landmark Properties Ltd.