Chicago’s Wrigley Building expected to fetch $200M in sale

By IndustriesFOXBusiness

(REUTERS/Frank Polich)

A piece of iconic Windy City architecture may be changing ownership soon.

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The Wrigley Building, the two-lower structure opened in 1924, is being shopped to sales brokers, the Chicago Tribune reported.

The building’s current ownership group is led by BDT Capital Partners.

While an asking price hasn’t been announced, it could reportedly be in excess of $200 million.

According to the Tribune, that price is more than six times the $33 million that BDT paid for the structure in 2011.

For many years the building was the headquarters for the chewing gum giant, Wrigley Company. The last of the company’s employees moved out after the last sale.

The largest office tenant is architecture firm Perkins + Will, which leases more than 60,000 square feet of the 472,000 square foot building, according to the report.

The Tribune said a BDT spokeswoman did not respond to requests for comment. Zeller Realty Group President Ari Glass declined to comment.

The building was declared a landmark in 2012.