chi-willis2 (4) The base of the new Willis Tower will include retail and entertainment that will bring in visitors.

CHICAGO— Willis Tower may be the city’s most recognizable building, but it has not undergone a major renovation in its 43-year history. That will change in 2017. Equity Office, a portfolio company owned by Blackstone’s real estate funds, said yesterday at a press conference with Mayor Rahm Emanuel that it would invest $500 million in the iconic structure, bringing in a unique set of amenities, along with new retail and entertainment options.

“With this historic investment, the Willis Tower will remain a vibrant and modern icon that inspires both young and old for generations to come,” Mayor Emanuel said. “But more than that – today Blackstone is doubling-down on its confidence in the future we are building in the city of Chicago.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.