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.”
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