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 | Nov 4, 2015
Labor City: The Qatari complex for 70,000 migrant workers opens
The project is just one of seven house complexes built by the government for the country’s approximately 260,000 labor migrants.
Architects | Oct 27, 2015
Top 10 tile trends for 2016
Supersized tile and 3D walls are among the trending tile design themes seen at Cersaie, an exhibition of ceramic tile and bathroom furnishings held in Bologna, Italy in October.
Multifamily Housing | Oct 27, 2015
Multifamily building in downtown Montreal is being built from the roof down
The method eliminates the need for scaffolding and cranes.
Modular Building | Oct 22, 2015
My Micro NY will soon be New York's first micro-apartment building
The Manhattan modular building will be completed in December and will contain apartments with low rents, but small space.
Architects | Oct 20, 2015
Four building material innovations from the Chicago Architecture Biennial
From lightweight wooden pallets to the largest lengths of CLT-slabs that can be shipped across North America
Multifamily Housing | Oct 20, 2015
Builder confidence rises on multifamily’s strength
Starts and completions were up solidly in September, but permits are leveling off.
Multifamily Housing | Oct 16, 2015
Textile factory turned multifamily has train tracks running through it
The Counting House Lofts is a 200-year-old building that still has its train tracks, exterior train bay doors, and a watch house tower.
Multifamily Housing | Oct 15, 2015
Montreal apartment is world’s largest residential cross-laminated timber project
Its 434 condo, townhouse, and rental units in three eight-story buildings are made from sustainably harvested wood turned into panels by Canadian company Nordic Wood Structures together with the Cree Nation in Chibougamau.
Sponsored | Multifamily Housing | Oct 15, 2015
Apartment takes progressive turn in architecturally traditional D.C.
The new Lyric 440K Apartments is a 14-story structure housing 234 one- and two-bedroom units in the heart of D.C.'s up-and-coming Mount Vernon Triangle
Multifamily Housing | Oct 12, 2015
Freddie Mac: Multifamily demand should outpace supply through 2016
Vacancy rates and rent growth are “converging” in most markets.
