{"id":1004053655,"date":"2011-09-23T06:51:05","date_gmt":"2011-09-23T14:51:05","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=18356"},"modified":"2022-12-08T21:01:16","modified_gmt":"2022-12-09T05:01:16","slug":"wrigley-buildings-new-owners-announce-revamp-plans","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/","title":{"rendered":"Wrigley Building\u2019s New Owners Announce Revamp Plans"},"content":{"rendered":"<div style=\"float: right\">\n<div id=\"attachment_18369\" class=\"wp-caption alignright\" style=\"width: 235px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/wrigley-building-chicago.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/wrigley-building-chicago.jpg\" alt=\"\" width=\"225\" height=\"300\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Photo by Simon Willison<\/p>\n<\/div>\n<\/div>\n<p style=\"text-align: justify\">By Veronica Grecu, Associate Editor<\/p>\n<p style=\"text-align: justify\">Last week Wm. Wrigley Jr. Co. confirmed the sale of its eponymous building, located at 400-410 North Michigan Avenue, Near North Side, and an adjacent 1.5-acre lot to a team of investors led by BDT Capital Partners, a Chicago-based investment company who partnered with Groupon and Zeller Realty Group. Now that the new owners have been announced, the <em>Chicago Tribune<\/em> has revealed renovation plans for the building\u2019s two interior towers, the public plaza between them and the retail space on the ground floor. Meanwhile, the joint venture is seeking landmark status for the Wrigley building, which, if approved, could lead to significant tax exemptions over the next 12 years.<\/p>\n<p style=\"text-align: justify\">The property has been Wrigley\u2019s headquarters for almost a century. The company is set to relocate its employees from the building to a new facility on Goose Island by the end of 2012, reports the <em>Tribune<\/em>. Once the relocation is complete, the 460,000-square-foot office building will have an occupancy rate of only 35 percent.<\/p>\n<p style=\"text-align: justify\">In residential news, the <em>Tribune<\/em> reports that a new duplex model was revealed in the Kenwood-Oakland neighborhood, at Lake Park Crescent. The three-bedroom, 2 \u00bd-bath duplex model is called CItyHome and was developed by Draper and Kramer Inc. The new duplex also features an open floor plan, a private deck, a kitchen equipped with granite countertops and stainless-steel appliances, and designer cabinetry. Though originally priced at $498,000, the new duplex models can now be purchased starting from $249,800.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Veronica Grecu, Associate Editor<br \/>\nLast week Wm. Wrigley Jr. Co. confirmed the sale of its eponymous building, located at 400-410 North Michigan Avenue, Near North Side, and an adjacent 1.5-acre lot to a team of investors led by BDT Capital [&#8230;]<\/p>\n","protected":false},"author":757,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21742],"tags":[],"class_list":["post-1004053655","post","type-post","status-publish","format-standard","hentry","category-chicago","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Wrigley Building\u2019s New Owners Announce Revamp Plans - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wrigley Building\u2019s New Owners Announce Revamp Plans\" \/>\n<meta property=\"og:description\" content=\"By Veronica Grecu, Associate Editor Last week Wm. Wrigley Jr. Co. confirmed the sale of its eponymous building, located at 400-410 North Michigan Avenue, Near North Side, and an adjacent 1.5-acre lot to a team of investors led by BDT Capital [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-09-23T14:51:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:01:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/wrigley-building-chicago.jpg\" \/>\n<meta name=\"author\" content=\"Veronica Grecu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/\"},\"author\":{\"name\":\"Veronica Grecu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/159949bd3f979917cc7bf081d749b862\"},\"headline\":\"Wrigley Building\u2019s New Owners Announce Revamp Plans\",\"datePublished\":\"2011-09-23T14:51:05+00:00\",\"dateModified\":\"2022-12-09T05:01:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/\"},\"wordCount\":254,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/09\\\/wrigley-building-chicago.jpg\",\"articleSection\":[\"Chicago\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/\",\"name\":\"Wrigley Building\u2019s New Owners Announce Revamp Plans - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/09\\\/wrigley-building-chicago.jpg\",\"datePublished\":\"2011-09-23T14:51:05+00:00\",\"dateModified\":\"2022-12-09T05:01:16+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/159949bd3f979917cc7bf081d749b862\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/09\\\/wrigley-building-chicago.jpg\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/09\\\/wrigley-building-chicago.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wrigley-buildings-new-owners-announce-revamp-plans\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Wrigley Building\u2019s New Owners Announce Revamp Plans\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/159949bd3f979917cc7bf081d749b862\",\"name\":\"Veronica Grecu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2024\\\/04\\\/Veronica_Grecu.jpg?w=93\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2024\\\/04\\\/Veronica_Grecu.jpg?w=93\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2024\\\/04\\\/Veronica_Grecu.jpg?w=93\",\"caption\":\"Veronica Grecu\"},\"description\":\"Veronica Grecu is a senior creative writer and research analyst for RentCafe. With more than 14 years of experience in the real estate industry, she covers a variety of topics in the apartment market, including rental competitiveness, new construction and other industry trends. Her work has been featured in top publications like The New York Times, The Washington Post, The Wall Street Journal, The Philadelphia Inquirer, The Miami Herald, CNN, CNBC, and more. Prior to RentCafe, Veronica was involved in producing real estate content for Multi-Housing News, Commercial Property Executive and Yardi Matrix. She holds a B.A. in Applied Modern Languages and an M.A. in Advertising and PR.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/veronicagrecu\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Wrigley Building\u2019s New Owners Announce Revamp Plans - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/","og_locale":"en_US","og_type":"article","og_title":"Wrigley Building\u2019s New Owners Announce Revamp Plans","og_description":"By Veronica Grecu, Associate Editor Last week Wm. Wrigley Jr. Co. confirmed the sale of its eponymous building, located at 400-410 North Michigan Avenue, Near North Side, and an adjacent 1.5-acre lot to a team of investors led by BDT Capital [...]","og_url":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2011-09-23T14:51:05+00:00","article_modified_time":"2022-12-09T05:01:16+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/wrigley-building-chicago.jpg","type":"","width":"","height":""}],"author":"Veronica Grecu","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/"},"author":{"name":"Veronica Grecu","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/159949bd3f979917cc7bf081d749b862"},"headline":"Wrigley Building\u2019s New Owners Announce Revamp Plans","datePublished":"2011-09-23T14:51:05+00:00","dateModified":"2022-12-09T05:01:16+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/"},"wordCount":254,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/wrigley-building-chicago.jpg","articleSection":["Chicago","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/","url":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/","name":"Wrigley Building\u2019s New Owners Announce Revamp Plans - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/wrigley-building-chicago.jpg","datePublished":"2011-09-23T14:51:05+00:00","dateModified":"2022-12-09T05:01:16+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/159949bd3f979917cc7bf081d749b862"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/wrigley-building-chicago.jpg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/wrigley-building-chicago.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/wrigley-buildings-new-owners-announce-revamp-plans\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Wrigley Building\u2019s New Owners Announce Revamp Plans"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/159949bd3f979917cc7bf081d749b862","name":"Veronica Grecu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Veronica_Grecu.jpg?w=93","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Veronica_Grecu.jpg?w=93","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Veronica_Grecu.jpg?w=93","caption":"Veronica Grecu"},"description":"Veronica Grecu is a senior creative writer and research analyst for RentCafe. With more than 14 years of experience in the real estate industry, she covers a variety of topics in the apartment market, including rental competitiveness, new construction and other industry trends. Her work has been featured in top publications like The New York Times, The Washington Post, The Wall Street Journal, The Philadelphia Inquirer, The Miami Herald, CNN, CNBC, and more. Prior to RentCafe, Veronica was involved in producing real estate content for Multi-Housing News, Commercial Property Executive and Yardi Matrix. She holds a B.A. in Applied Modern Languages and an M.A. in Advertising and PR.","url":"https:\/\/www.commercialsearch.com\/news\/author\/veronicagrecu\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004053655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/757"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004053655"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004053655\/revisions"}],"predecessor-version":[{"id":1004613253,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004053655\/revisions\/1004613253"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004053655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004053655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004053655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}