Tribune Closes Sale Of Iconic Chicago Tower


The building that Chicago Tribune reporter Robert Channick calls “Chicago’s monument to newspaper journalism” is officially headed to use as a reborn mixed-use development more than 90 years after its grand opening.

The iconic 36-stoitunespics-055ry Tribune Tower built for the Tribune Media Co.‘s flagship newspaper is now the property of Los Angeles-based CIM Group, which on Sept. 28 announced that it has closed on its $240 million purchase of the building from Tribune.

A neo-Gothic structure that was named a landmark building by the City of Chicago in 1989, the Tribune Tower sits prominently on the eastern end of Michigan Avenue’s “Magnificent Mile.” CIM’s plans include retail, residential, office space and a hotel.

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