Iconic Wrigley Building sold to consortium

September 25, 2011

The Wrigley Building has been sold to a consortium of investors.

The iconic Wrigley Building in Lease Chicago office space to rentChicago has been sold by the group to a consortium of investors for an undisclosed sum, allowing Wrigley to move away from the site in late 2012.

A group of businessmen led by BDT Partners, Zeller Realty Group and the co-founders of Groupon have purchased the Wrigley Building in Chicago from the WM Wrigley Jr company.

Although the price has been classed as undisclosed Marketwatch believe that the commercial buuilding could be worth between anything around £35 million-$45 million.

Situated on the Chicago River opposite the Tribune Tower, the Illinois office space has held iconic status ever since it was constructed in 1920s, featuring heavily in the Windy City’s office landscape.

Wrigley will remain as tenants in the Chicago commercial property’s office space until the end of 2012 when they will take their global headquarters to their Goose Island campus.

The sale came about following Wrigley’s purchase by Mars and besides the 460,000 square foot of office space which constitutes the Wrigley Building, also included in the lot is 443 Wabash which is situated next to the commercial property and offers 1.5 acres of land.

Paul Zeller of Zeller Realty Group believes that the building can take the lead in 21st century Chicago, saying: “We look forward to partnering with BDT to reinvigorate this notable Chicago skyscraper.”

Eric Lekofsky and Brad Keywell, the Groupon co-founders were rumoured to be interested in the Wrigley Building, meaning that their contribution in the buying process was not wholly unexpected.

BDT in a statement praised: “An iconic Chicago asset [which is] a meaningful symbol of the city’s rich history and growth.”

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