Chicago's Tribune Tower leans on history to sell luxury
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The Tribune Tower lobby. Photo: Courtesy of the Tribune Tower
Chicago's Tribune Tower may not house journalists anymore, but it is leaning on its history to lure potential condo buyers to the historic building.
The big picture: The Tribune Tower has been converted from offices to a breathtaking luxury condo building that could anchor a new retail district on the Mag Mile.
Flashback: Tribune Media sold Col. McCormick's pride and joy in 2016 to CIM Group, and the new owners got rid of the Chicago Tribune and WGN Radio offices to turn the 34-story building into million-dollar luxury condos.
Yes, but: The 99-year-old building's facade stayed intact (along with the Tribune sign). The international bricks and the free speech quotes in the lobby are also still there, mostly because the Gothic tower is landmarked. But that's where the similarities end.
What they're saying: "This structure could not be built for the amount of money that it would take for the beauty of it," the building's sales director, Jeanne Martini, tells Axios.
"All of the fine details and the architecture is just incredible."
- Martini also says the building's office blueprint forced the developers to use some of the space for amenities rather than condo units.
💠Justin's thought bubble: As a former employee who had an office in that building, the conversion is nothing short of miraculous.
The vibe: Gone are the dank hallways and clanky radiators. Instead of printing archives, cubicles and radio studios, the building now sports:
- Two- to four-bedroom condos ranging from $2.6 million to $5 million. The four-bedroom will get you over 4,000 square feet.
- Over 55,000 square feet of amenities, including lounges and terraces throughout the building equipped with desks, furniture, pool tables, golf simulators, a pool/spa, outdoor kitchens and a helluva breathtaking view of Wacker Drive.
- You can even get your car washed and your bike valet-parked.
Zoom out: Developers and real estate agents are building up the concept of a "Tower District," and the Tribune building plays into that with retail on the ground level, including an upscale watch store, Rowan and the Museum of Ice Cream.
- "When you're coming here to this area, you are part of the highest-performing department store on the Avenue, which is Nordstrom. You're coming to a very strong-performing Apple store, and we're seated right in between those two," Amy Sider from Odyssey Retail Advisors tells Axios.
The bottom line: These condos aren't cheap, but if you are in the market to take advantage of Chicago's Mag Mile and steep yourself in journalism history, the revamped Trib Tower is the place to be.