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Sibley Fleming Sibley Fleming is the managing editor of National Real Estate Investor. She is also responsible for NREI¹s annual Green Building Survey, which is being conducted in partnership...more

Archive for March, 2010

$350 million Greening of Chicago Sears Tower in Doubt

Well, it’s not actually the Sears Tower anymore—it’s called the Willis Tower. But the point is that the firm hired to find the public financing for the big green project was fired without a 30-day notice, so now there’s a law suite. This is what Crain’s Chicago has to say about it:



(Crain’s) — A co-owner of Willis Tower is rethinking a $350-million plan to make the 110-story skyscraper more eco-friendly, according to a lawsuit.


Pickering & Associates LLC, a public affairs firm hired to find public financing sources for the project, alleges that landlord American Landmark Properties Ltd. breached its contract with Pickering by trying to fire the firm Feb. 1, without a required 30-day notice.


The breach “occurred shortly after American Landmark informed Pickering that American Landmark was re-evaluating the viability of the (project) and the possibility of funding it through public sources,” says the complaint, filed in Cook County Circuit Court.


American Landmark unveiled the ambitious plan for the former Sears Tower in June 2009, calling it one of “the most significant sustainable modernization projects of an existing building ever taken.”


The so-called Greening Project would include replacing all 16,000 windows in the tower, 233 S. Wacker Drive, and adding grass and wind turbines to its roof. American Landmark at the same time also announced plans to build a luxury hotel next door to the skyscraper.

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The NREI Green Shoots focuses on the latest news, data and analysis of the rapidly evolving commercial real estate green building industry. Here readers will find useful insight on green leases, valuations, financing, and government regulations and incentives for new and existing buildings. The blog highlights the innovations of forward thinking industry pioneers as they forge a more sustainable future.

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