In 1969, Sears, Roebuck & Co. was the largest retailer in the world, with about 350,000 employees. On May 26, 1972, the Commission declined to take action on the grounds it did not have jurisdiction. In July 1990, with no potential buyer apparent, Sears took out a mortgage loan on the tower for $850 million from MetLife and AEW Capital Management, with Metlife as the holder of the mortgage note. A second suit was filed on March 28 in Cook County Circuit Court by the villages of Skokie, Northbrook, and Deerfield, Illinois. It was hoped that a new, silver, paint-job would "rebrand" the building and highlight its advances in energy efficiency for an estimated cost of $50 million. [39] The alleged leader of the group, Narseal Batiste, was sentenced to 13½ years in prison. Sears Tower's owners, a group that includes Skokie, Ill.-based American Landmark Properties Ltd., have upped the ante, offering naming rights to … The firm consulted with local and federal authorities and the applicable law, then offered Sears two options: the Login Stations at the same height on the same mast indicate the use of a diplexer into the same shared antenna. The structure was completed in May 1973. Sears purchased 15 old buildings from 100 owners and paid $2.7 million to the City of Chicago for the portion of Quincy Street the project absorbed. To honor Khan's contributions, the Structural Engineers Association of Illinois commissioned a sculpture of him for the lobby of the Willis Tower. Another pass called Day/Night Pass which is priced at $45 per person will give you access to the Skydeck twice in a … A Willis spokesman said the naming rights were obtained as part of the negotiations at no cost to Willis, [30] [31] [32] and the building was renamed the Willis Tower on July 16, 2009. Elevators reach the top in about 60 seconds, allowing occupants to feel the change in pressure as they ascend. The Willis Tower remains the second tallest building in the Americas (after One World Trade Center) and the Western Hemisphere. Notably, the Willis Tower has never been fully occupied. Price:adult/child $24/16. The northeast and southwest tubes reach the 66th floor; the north, east, and south tubes end at the 90th. The 1990s saw a shift in ownership when the Toronto-based TrizecHahn Corporation bought the ownership rights of the tower from AEW in 1997 for $110 million USD. Sears and the City of Chicago approved the desig… Sears managers decided to put all of those workers into one building. So, what makes the Willis Tower Skydeck such a must-see place? The Sears Tower was the first building to use this innovative design. All rights reserved. catchphrase from the American television sitcom Diff'rent Strokes[65] and considered the name-change ill-advised in "a city with a deep appreciation of tradition and a healthy ego, where some Chicagoans still mourn the switch from Marshall Field's to Macy's". It had thousands of workers in offices in the Chicago area. The remaining west and center tubes reach 108 floors. The firm consulted with local and federal authorities and the applicable law, then offered Sears two options: the Goose Island area northwest of downtown, and a two-block area bounded by Franklin Street on the east, Jackson Boulevard on the south, Wacker Drive on the west and Adams Street on the north, with Quincy Street running through the middle from east to west. Goodwin stated that the reason he made the climb was to call attention to shortcomings in high-rise rescue and firefighting techniques. The Chicago Franchise frequently features locations where the tower is visible in the distance. [33], In 2004, MetLife sold the building to a group of investors including New York-based Joseph Chetrit, Joseph Moinian, Lloyd Goldman, Joseph Cayre and Jeffrey Feil, and Skokie, Illinois-based American Landmark Properties. Sears asked its outside counsel, Arnstein, Gluck, Weitzenfeld & Minow (now known as Arnstein & Lehr, LLP) to suggest a location. All nine tubes would rise up to the 50th floor of the building, where the northwest and southeast tubes terminate. Sears executives decided to consolidate the thousands of employees in offices distributed throughout the Chicago area into one building on the western edge of Chicago's Loop. Now broadcasting only in digital. [8] Morgan Stanley plans to move to the building in 2019 and become its fourth-largest tenant by 2020. Elevators reach the top in about 60 seconds, allowing occupants to feel the change in pressure as they ascend. [30] Just two years later, Sears began a move of its own offices out of the building[citation needed] to a new campus in Hoffman Estates, Illinois, which was completed in 1995. It cost about US$150 million to build. The Willis Tower (colloquial: Sears Tower, its name for 36 years) is a 110-story, 1,450-foot (442.1 m) skyscraper in Chicago, Illinois. 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