However, the feisty urban tabloid's squat, 430,000-sf building along the Chicago River will serve as a sales center for the Trump International Hotel & Tower, at least until the building is demolished some time next summer.
So where will the staff of the sixth-largest US daily newspaper go? "We're either going to be buying or leasing the space we need," says F. David Radler, chief operating officer of Hollinger International, publisher of the Sun-Times as well as North Shore magazine and the Pioneer Press suburban weekly newspaper chain.
Options already considered were reportedly to the south and west of the Sun-Times building. Radler says the newspaper needs 70,000 sf to 120,000 sf for its editorial, advertising and business operations, preferably Downtown. Given that Studley pegs the available Downtown Class A space at 18.5% of the inventory, the Sun-Times should have plenty of options.
"We don't nearly need the space we once had in that location," says Radler, noting the presses have long been moved to a new plant on the Southwest Side, which provides circulation department drivers quick access to the Stevenson Expressway and a more centralized location within the city.
Hollinger International--not Radler nor publisher Conrad Black individuall--is a joint venture partner with the Trump Organization on the 2.4-million-sf tower, with at 90 stories and 1,125 sf will become the fourth tallest building in Chicago after the Sears Tower, John Hancock building and Aon Center.
"We went into business with Donald Trump two years ago, and it's been a pleasure to do business with him," Radler says. "It's a partnership that's working."
Putting up a prime two-acre site, arguably the most underdeveloped Downtown parcel in the US, makes the venture attractive to Trump. "The (new) building and the site are so important to me," he says.
Trump says he hopes the Sun-Times could be tenants in the 315,000-sf office portion of the project, but concedes the rent may be a bit steep for Hollinger International.
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