Your NPR news source

Tribune Tower Sale Sign Of A Slowing Industry

The Tribune Tower has been sold to CIM Group for $240 million. Employees of the Chicago Tribune are expected to move out of the newspaper’s iconic home by mid-2017.

The Chicago Tribune held an international design contest in the 1920s for a building to house its headquarters along Michigan Avenue. Architecture critic Lee Bey said the structure is one of the finest neo-Gothic towers in the country. He said today, it would be unheard of for a newspaper to hold such a competition because of slowing newspaper sales. The tower was designated as a Chicago landmark in 1989.

WBEZ’s Melba Laura spoke with Bey about the building and its future.

SHARE Tribune Tower Sale Sign Of A Slowing Industry
Top of the Tribune Tower

The top of the Tribune Tower on Michigan Avenue in Chicago. Los Angeles-based CIM Group has agreed to buy the tower for up to $240 million. Chicago-based Tribune Media announced the deal Tuesday, Aug. 30.

M. Spencer Green

Chicago’s iconic Tribune tower, which was built in the 1920s to house the Chicago Tribune, is being sold to a Los Angeles-based real estate group.

Employees of the Tribune Media company are expected to move out by the middle of next year.

Architecture critic Lee Bey spoke with us about the Tower’s architectural impact and indulged in a little speculation of what the building’s next life might look like.

On the tower’s popularity in the 1920s

It was a big thing when it was constructed. There was a famous design competition that led to the design that’s there now. Architects from all over the world submitted designs, so when it was finally erected it was a really big thing.

On the building’s architectural influence (or its lack of)

It comes late in the neoclassical movement so it doesn’t really influence architecture after that. You don’t see gothic towers popping up in the city after that.

But it marked the beginning of Michigan Ave. When you’re going from south to north it heralds your arrival on Michigan Ave, and gives you the sense that there’s something happening down the way.

On how its design reflected the role of the Tribune then and now

This was a paper that saw itself as a national, global newspaper. It was a paper of gravity, a paper of record, and the architecture reflects that.

Now, it’s part of what’s happening to many newspapers around the country. They were placed at the height of newspaperdom in these prime spots downtown and now as the medium downsizes and these properties become more valuable than, perhaps, the entities that are inside of them, you see this migration out. It’s kind of the end of an era for newspaper entities as mainstays of urban centers.

On what’s next for the designated landmark

My hunch is that at minimum Tribune Tower becomes a hotel. It’s a tall building, relatively thin, relatively narrow compared to more modern buildings, so the idea of it being a hotel works out. There’s a lot of windows and small floorplates which is kind of what you want in a hotel, particularly a boutique hotel.

But I think the thing to watch out for is that it’s on a larger footprint. The building sits on more ground than it needs so there are buildable areas around the structure that can be redeveloped. You could have the Tribune Tower still there, obviously it’s a landmark, with these new buildings around it particularly to the east. It’s going to be interesting to see what happens.

This interview has been edited for brevity and clarity.

The Latest
Some small business owners said they plan to close during the two-day event, but others are excited about the race and the boost in pedestrian traffic that could bring more sales.
The San Diego-based chain is planning to open eight 24-hour restaurants in the city and suburbs in 2025 and 2026. One will be near Midway Airport, with the rest in the suburbs.
Sunday marked the last day for four of the eight Walmart stores in Chicago: three neighborhood markets and one Supercenter. Host: Mary Dixon; Reporter: Michael Puente
Chicago is a food writer’s delicious playground, and a new guide book aims to point you to all the best dishes created in the city. Reset learns more about those dishes, where to find them and the origin stories that started them all. GUESTS: Monica Eng, author of Made in Chicago and Chicago reporter for AXIOS David Hammond, author of Made in Chicago and Chicago food writer