One of Chicago's most well known pieces of real estate, the Willis Tower, is on the market. It is supposedly up for $1,500,000,000. It was purchased from Sears in 2004 for $841,000,000 and was back on the market in 2011 but had no buyers. It is expected to sell for around one billion dollars in today's more robust commercial market and it won't be surprising if the buyer is not from the United States.
About The Willis Tower
Let's get this out of the way first. Do you still call it Sears Tower? I do. In fact, one of my best friends used to work there when she worked at Sears Corporate offices in the building. She had an office fit for an executive and she was an administrative assistant. I think she gained weight there because they'd have catered food at least once a week, maybe more. It was a lavish work environment at the time.
Here's some facts:
- The Willis Tower is 1,451 feet high
- It is the second tallest skyscraper in the United States (One World Skyscraper in New York City is higher at 1,776 feet high)
- It is the 12th highest skyscraper in the world
- It has 4.6 million square feet
- It is about 84% occupied
- The most famous attraction is the Skydeck 103 floors up, featuring The Ledge - glass boxes that extend out 4.3 ft. from the Skydeck (no thanks!)
The Day I Visited the Skydeck
We had friends from out-of-town that wanted to visit Willis Tower's Skydeck. Having lived in the southwest suburbs my entire life, I had never been there. As we were waiting in line for our turn in the elevators (I hate elevators), a young woman with a Southern accent excitedly shared that this was her 13th time up to the Skydeck. She asked us where we were from. We said we were from the Chicago area. Her eyes got wide and she asked how many times we've been up there. She couldn't believe it when I said it was my first time!
I was pretty nervous about an elevator ride to the 103rd floor. I honestly don't remember too much about it, but I know it's fast. I was freaking out watching people go out on those sky boxes and would never had let anyone in my family go out there. Did I mention that I not only hate elevators but I have a fear of heights? What was I thinking?!
That is not me in the above photo. Take a good look at it, especially if you've never seen one of these glass boxes in person. You can see some hardware in one of the corners and I think on the floor (all those circle things) and you see the view this person had. It must be amazing for those without the paralyzing fear I would have.
Searching for Real Estate Near Willis Tower
For some reason I thought there were living spaces in the skyscraper but nothing showed up in our MLS (Multiple Listing Service). Our MLS used to be the largest in the nation. We've lost that position as some states have combined their MLS's statewide, but ours is still large. I couldn't even find The Willis Tower listed in the commercial section, so it is being marketed through a different resource.
I can sell Orland Park real estate and I can also sell downtown Chicago, the north side, western, northwestern & eastern areas and even border towns of Indiana, Michigan and Wisconsin. Personally, we refer out to local agents in the other states or very far areas from where we normally work and live.
I tried doing a map search close to the tower with no luck. So then I just tried searching residential in the 60606 zip code. You can see the results below.
Although we don't sell a lot in the area, we have sold some condos downtown and the near north side. If you'd like to look at any of the listings above you can request a showing or more information on any listing.
The Judy Orr Team of HomeSmart Realty Group