Willis Tower Up For Sale
CHICAGO (CBS) -- The Willis Tower is perhaps the most recognized Chicago landmark and now the most expensive property ever up for sale here.
While there is no "For Sale" sign in the window, management sources have confirmed the Willis Tower is on the market. Eastdil Secured is handling any potential deal.
The reported asking price is $1.5 billion. CBS 2's Dana Kozlov takes a look at what you get for all that money.
42 years old and still it is still a Chicago trophy tower, but the Willis, formerly Sears, Tower may change ownership once again.
"Given what's happened with office building values over the last year or two…it's a great time to be a seller," said Crain's Chicago Business senior reporter Alby Gallun.
If it sells for that, it would be almost double the $840 million the current owners paid in 2004. Gallun said it would be by far the most expensive building sale in Chicago.
"The record right now is $850 million for a building at 350 North LaSalle that sold about a year, year and a half ago," Gallun said.
So what would that cool $1.5 get you? Well, the Willis Tower features four and a half million square feet. That's more than a hundred football fields. There are 145,000 light fixtures. But don't worry about washing the 16,000 windows, six robotic machines make those sparkle. There are 104 fast moving elevators and 25 miles of piping.
Experts say the name of the tower could be renegotiated after a sale.