News
Report: Blackstone in Talks to Buy Willis Tower for $1.5B
March 9, 2015
Blackstone is reportedly in talks to buy Chicago's Willis Tower for $1.5B. The Windy City acquistion would be splashy even by Blackstone's lofty standards: the Willis Tower (fka Sears Tower) was America's tallest building until 1 World Trade Center (controversially) topped it in 2013. And the price tag would set a Chicago office building record. None of the parties involved in the sale have gone on record to confirm Blackstone's interest. It was announced last week that New York-based owners Joe Chetrit and Joe Moinian had put the 1,450-foot skyscraper on the market. They acquired it in a 2004 partnership with American Landmark Properties for $841M, and renamed it five years later. [Bloomberg]
