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 | Oct 2, 2020
Everyone's getting a fire pit!
Skeleton fire pit in Chicago, October 2020
Coronavirus | Oct 2, 2020
With revenues drying up, colleges reexamine their student housing projects
Shifts to online learning raise questions about the value of campus residence life.
Multifamily Housing | Oct 1, 2020
Glass railings installed at 300-unit rental complex in Columbus, Ohio
Vision Communities chose Viewrail railings for the main entrance of The Ave, a 300-unit rental enterprise in Columbus, Ohio.
Multifamily Housing | Sep 29, 2020
Washington, D.C.’s first modular apartment building breaks ground
Eric Colbert & Associates designed the building.
Multifamily Housing | Sep 22, 2020
AIA/HUD Secretary's Awards celebrate affordable, accessible, and well-designed housing
Each year, the AIA and HUD partner to celebrate projects that demonstrate affordable, accessible and well-designed housing, proving that good design is not exclusive.
Multifamily Housing | Sep 16, 2020
8 (more) noteworthy multifamily projects to debut in 2020
An office-to-apartment conversion in Clearwater, Fla., and a modular affordable housing community in Portland, Ore., highlight the latest multifamily developments to open this year.
Multifamily Housing | Sep 14, 2020
McShane Construction begins work on Gilbert, Ariz., multifamily development
Continental Properties is the project owner.
Multifamily Housing | Sep 10, 2020
COVID-19: How are you doing?
Multifamily seems to be one sector in the construction industry that’s holding its own during the pandemic.
Multifamily Housing | Sep 10, 2020
EV charging webinar to feature experts from Bozzuto, Irvine Company, and RCLCO - Wed., 9-16
EV charging webinar (9/16) to feature Bozzuto Development, The Irvine Company, RCLCO, and ChargePoint
Multifamily Housing | Sep 2, 2020
8 noteworthy multifamily projects to debut in 2020
Brooklyn's latest mega-development, Denizen Bushwick, and Related California’s apartment tower in San Francisco are among the notable multifamily projects to debut in the first half of 2020.