According to Crain’s Chicago Business, the Sears Tower, Chicago’s iconic skyscraper, is to be renamed Willis Tower. The London-based insurance firm Willis Group Holdings will take about 140,000 square feet in the tower starting this summer and got the naming rights thrown in for free.
While the name stuck, Sears hasn’t leased space in the building since the 1990s when it moved its headquarters to the suburbs. The building suffered a tenant drain after 9/11 as security measures increased. More recently several anchors announced plans to vacate major blocks of space in the building for new projects around town, making the renaming less surprising.