As Tribune Tower, former home of the Chicago Tribune, moves forward with its redevelopment into condominiums, a settlement has been reached between Tronc (the newspaper’s parent company) and CIM Group and Golub & Co. (the real estate firms spearheading the tower’s redevelopment) about what to do with the iconic Chicago Tribune sign.
According to the Chicago Tribune, the sign will be removed at the end of this year as work at the site proceeds, and then reattached in early 2020 as the project nears its conclusion. The eight-foot-tall letters will be reattached slightly above where they are now and will be held up by posts along the south side of a new seventh-floor pool and outdoor deck area for residents. The large, white letters will provide shade for residents using the deck behind them.
CIM Group and Golub & Co. originally filed the suit after the Chicago Tribune told the developers they planned to remove the sign and wouldn’t sell it. The developers argued they had the right to buy the sign or any “roof installation” for $1 and keep it on the building due to a provision in a lease the Chicago Tribune signed five years ago. CIM and Golub argued they assumed the lease when they purchased the building from Tribune Media.
With a settlement reached, work on the project is set to move forward. The redevelopment project includes a 1,422-foot-tall skyscraper that, if approved, could begin construction in late 2019 and would become the second tallest building in Chicago.
Related Stories
Multifamily Housing | Sep 22, 2021
Designing for the ‘missing middle’ in multifamily housing
Multifamily housing expert Patrick Winters, AIA, discusses a neglected segment of the market: the "missing middle."
Multifamily Housing | Sep 22, 2021
11 notable multifamily projects to debut in 2021
A residence for older LGBTQ+ persons, a P3 student housing building, and a converted masonic lodge highlight the multifamily developments to debut this year.
Multifamily Housing | Sep 1, 2021
Top 10 outdoor amenities at multifamily housing developments for 2021
Fire pits, lounge areas, and covered parking are the most common outdoor amenities at multifamily housing developments, according to new research from Multifamily Design+Construction.
Giants 400 | Aug 30, 2021
2021 Giants 400 Report: Ranking the largest architecture, engineering, and construction firms in the U.S.
The 2021 Giants 400 Report includes more than 130 rankings across 25 building sectors and specialty categories.
Multifamily Housing | Aug 30, 2021
366-unit multifamily community breaks ground San Jose
KTGY designed the project.
Multifamily Housing | Aug 27, 2021
ODA completes West Half, its first D.C. project
The project is located in Washington, D.C.’s Navy Yard.
Multifamily Housing | Aug 26, 2021
Luxury residential tower breaks ground in Downtown Phoenix
The tower will rise 26 stories.
Multifamily Housing | Aug 19, 2021
Multifamily emerges strong from the pandemic, with Yardi Matrix's Doug Ressler
Yardi Matrix's Doug Ressler discusses his firm's latest assessment of multifamily sales and rent growth for 2021.
Resiliency | Aug 19, 2021
White paper outlines cost-effective flood protection approaches for building owners
A new white paper from Walter P Moore offers an in-depth review of the flood protection process and proven approaches.
Senior Living Design | Aug 13, 2021
Designing with dignity for senior living, with Mike Rodebaugh, LEO A DALY
In this exclusive interview for HorizonTV, Mike Rodebaugh, AIA, Senior Living Sector Leader with LEO A DALY, describes how his firm applies "hospitality magic tricks" in its senior living communities, using design to lend dignity to residents, staff, and residents' families and social circles.
