Tribune’s news-talk “Radio 720” WGN Chicago will stay put in the Tribune Tower, despite the $240 million sale of the landmark building to Los Angeles-based developer CIM Group. Station officials informed employees Tuesday they’ll remain in the neo-Gothic tower at 435 North Michigan Avenue.
“While this will require a move for many of our corporate co-workers based here, it does not immediately affect WGN Radio,” management wrote in a memo to staff, according to Chicago media reporter Robert Feder. “We have a lease for our offices and studios on both the first and sevenths floors which runs through June of 2018. When the time is right, we’ll begin negotiations with CIM Group to extend our lease in this storied home of ours.”
It’s unlikely WGN will continue to occupy its street-level Allstate Showcase Studio overlooking Michigan Avenue and Pioneer Court once its current lease expires, Feder reports. But most of the station’s facilities have been located on the seventh floor since 2012.
Built in 1925, the iconic building is 35 stories high and has nearly 740,000 square feet of space. The sale also includes a 36,000-square-foot development site located directly to the east of Tribune Tower, fronting Cityfront Plaza. Put on the block in October 2015, the sale is part of a plan by Tribune to unload its entire $1 billion real estate portfolio.