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
| May 30, 2018
Accelerate Live! talk: From micro schools to tiny houses: What’s driving the downsizing economy?
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), micro-buildings design expert Aeron Hodges, AIA, explores the key drivers of the micro-buildings movement, and how the trend is spreading into a wide variety of building typologies.
Codes and Standards | May 30, 2018
Silicon Valley cities considering taxes aimed at large employers
The aim is to offset the impact on housing costs and homelessness by tech companies.
Multifamily Housing | May 30, 2018
Concentrated redevelopment: Apartment complex takes mixed use to the next level
An “intergenerational” mixed-use apartment complex may be a prototype for reenergizing neglected neighborhoods in America’s largest county.
| May 24, 2018
Accelerate Live! talk: Security and the built environment: Insights from an embassy designer
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), embassy designer Tom Jacobs explores ways that provide the needed protection while keeping intact the representational and inspirational qualities of a design.
BD+C University Course | May 24, 2018
Building passively [AIA course]
17 tips from our experts on the best way to carry out passive house design and construction for your next multifamily project. This AIA CES course is worth 1.0 AIA LU/HSW.
Multifamily Housing | May 23, 2018
Yankee Dandies: Century-old New England mills become multifamily residences
Having long outlived their original uses, two century-old New England mills have become valuable community assets once again—as multifamily residences.
Multifamily Housing | May 16, 2018
Pampering the pups: Why dog-washing stations are a must-have in multifamily developments
Self-serve dog-washing stations are reinforcing strong bonds between multifamily residents and their beloved canines.
Mixed-Use | May 16, 2018
Los Angeles mixed-use building uses prefabricated wood frame to reduce costs
SPF:architects designed the building.
Multifamily Housing | May 14, 2018
Yardi Matrix report shows U.S. rent surge in April
Year-over-year rent growth leaders in April were Orlando, Fla., Sacramento, Calif., Las Vegas, Tampa, Fla., and Phoenix.
Multifamily Housing | May 9, 2018
6 noteworthy projects: Transit-oriented rental community, micro-unit residences, and an office tower becomes a mixed-use community
These six recently completed projects represent some of the newest trends in multifamily housing.
