Los Angeles-based developer CIM Group has agreed to buy Tribune Tower for up to $240 million, marking the end of media ownership for the historic North Michigan Avenue building and the beginning of a new chapter, likely as part of a mixed-use redevelopment. [...]
Tribune Media unveiled conceptual plans last year to redevelop the parcel, adding several buildings to maximize the space with residential, retail and hotel components.
— chicagotribune.com
The Tribune Tower sale previously in the Archinect news: Chicago Tribune Tower inches closer to hotel & residential redevelopment
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