Tribune Tower Up For Sale
The iconic building in Chicago that is home to Tribune Media says it's hired a real estate investment banker to explore the sale of its Tribune Tower, its headquarters that sits on three acres along Chicago's Michigan Avenue. How much will it be sold for?
According to WREX TV 13, Tribune Real Estate President Murray McQueen says "the land marked building is expected to attract interest from a broad range of private and institutional investors and developers."
This incredible piece of Architecture is 36-stories and is home to not only the Chicago Tribune, but many other independent tenants. It's 737,000 square feet, but when you factor in the land, the space is priceless. As they say in real estate, location-location-location.
Even if the purchasing price was $50 a square foot, $36 million dollars is a steal for this land in the loop.
Watch for updates on potential sales.