Deals
Chicago’s Willis Tower Owners Said to Look for Buyer or Investor
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The owners of Chicago’s Willis Tower are seeking to sell North America’s tallest building or a stake in the skyscraper as prices for landmark office properties rebound, according to two people familiar with the plans.
The owners have hired brokers to market the 110-story tower in Chicago’s West Loop, said the people, who asked not to be identified because they aren’t authorized to speak about the situation. The building is owned by a partnership that includes New York investors Joseph Moinian and Joseph Chetrit and American Landmark Properties Ltd. of Skokie, Illinois. In 2004, the group paid $841 million for the property, then known as the Sears Tower, according to Real Capital Analytics Inc.