Willis Tower Owners’ Discuss Recapitalization/Sale of Iconic Building

by Chicago Agent

North America’s tallest building, the Willis Tower (formerly known as the Sears Tower) is expected to be either recapitalized or sold, said Wall Street Journal.

“Our goal is to make a strong building even stronger,” said a spokesman to the Wall Street Journal.

With the potential sale of the building looming over the owners’ heads, a price has not been named, but the previous transaction in 2004 totaled approximately $840 million.

However, with 18.3 percent of the enormous tower vacant, and new high-rise competition nearby, the current market value of the 110-story building is not expected to be as record-breaking as its height.

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