(Bloomberg) — Chicago's Willis Tower, once the world's tallest building and one of the city's top tourist attractions, is up for sale.
The owners, which include New York-based investors Joseph Chetrit and Joseph Moinian, have hired brokerage Eastdil Secured to market the 110-story skyscraper, said a person with knowledge of the matter, who asked not to be identified because the listing isn't public. It may fetch around $1.5 billion, which would set a record for an office building in the third-biggest U.S. city.
The 1,450-foot (442-meter) building, formerly known as the Sears Tower, is the second-tallest in the U.S., and was the world's highest from its completion in the early 1970s until 1998, according to the Council on Tall Buildings and Urban Habitat. It was last sold in 2004 to a group including Chetrit, Moinian and American Landmark Properties Ltd. for $841 million, a Chicago record until Irvine Co.'s $850 million purchase of 300 N. LaSalle St. last year.
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