Willis Tower...

The Sears Tower in Chicago has now officially been renamed Willis Tower.

The Chicago Skyscraper says farewell to it’s old name since 1973, starting today it is now called the Willis Tower. Though many people will continue to call it Sears Tower because of tradition and because they are just used to that name.

The Willis Tower is owned by American Landmark Properties of Skokie however the brokerage firm Willis Group Holdings has naming rights and that is why they have changed the name. That’s the news on the newly named Willis Tower.

Sears Tower Renamed Willis Tower...

Sears Tower will change its name to Willis Tower this summer, under the terms of a lease signed by global insurance broker Willis Group Holdings.

Willis Group plans to consolidate five area offices and move nearly 500 associates into Willis Tower, at 233 S. Wacker Drive, initially occupying more than 140,000 square feet on multiple floors.

London-based Willis said that its move to the new space, at $14.50 per square foot, will reduce its real estate costs significantly and that there is no additional cost associated with renaming the building.

“It was part of our negotiations,” said Willis spokesman Will Thoretz. “We are actually not having to pay anything for renaming the building.”

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