City Moves To Grant Wrigley Building Landmark Status
By Chuck Sudo in News on Feb 3, 2012 4:00PM
The Commission of Chicago Landmarks unanimously recommended granting landmark status to the Wrigley Building. A lot of you will think, "why the hell hasn't this happened before?"
The answer is simple. When the Wm. Wrigley Jr. Co. was the building's main tenant, the city felt there wasn't a need to place landmark status on the building. With the sale of the iconic building to BDT Capital Partners in September, that all changed. BDT, with minority interest partners Zeller Realty Group and Groupon co-founders Eric Lefkofsky and Brad Keywell, are planning renovations to the building to attract retailers.
The Wrigley Co. announced last July they would be moving their remaining employees in the building to their Goose Island campus built seven years ago.
The Landmarks Commission also supported a Class L property tax classification request by the new ownership group, which could save them up to $12.1 million over the next 12 years if they invest half of the building's current market value in a city sponsored rehabilitation project. The group has plans "to replace the white glass and metal cladding at the former 410 Club entrance with terra cotta and remove the non-historic glass and wood wall separating the plaza from Michigan Avenue," according to the Tribune.