Saturday, March 14, 2015

Your Name Here on Famous Route 66 Building in Chicago

From the March 5, 2015, Chicago Tribune "Your name here?: $1B asked for iconic tower; title tied up for now" by Melissa Harris.

I have to admit that I don't refer to it by its new name and don't figure at any time in the future.  To me it will always be the Sears Tower, much the way that the White Sox still play in Comiskey Park as far as I'm concerned.

The folks who own the Sears Tower have had some financial difficulties in recent years and are looking to sell it for more than $1 billion.  That could get your name on it after the contract with London-based insurance broker Willis Group Holdings to put their name on it runs out.

It is now the ____ Tower.  They get naming rights as they continue to lease at least 103,716 feet of floor space in the tower.

Folks say they got a really great deal for the naming rights, paying only $1 million a year.  Market folks say naming rights should go anywhere from $2 to $4 million.

Recoup Some of Your $1 Billion.  --RoadDog

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