Willis Tower sinks $500M into new 'shoes'

by ROB McMANAMY | February 8, 2017

When one hears the word "renovation," conjures "fixer-upper," or even reads the simple phrase "lobby redo," the mind does not naturally envision a $500-million price tag.

But then again, your condo association is probably not debating proposed improvements for the second-tallest tower in North America, which is also one of the great structural engineering achievements in human history. Last week, however, that was exactly the subject matter when Willis Tower owner Blackstone Group and the City of Chicago unveiled plans for a $500-million extreme makeover—just for the bottom floors—of the iconic, 110-story skyscraper formerly known as Sears Tower.

When that 1,729-foot-tall black building—designed and engineered by Chicago-based SOM and built by Morse Diesel International (now AMEC Foster Wheeler)—opened in 1974, its construction cost was estimated at $150 million. In 2017, that translates to $810 million. So, any way you crunch the numbers, the new project is a big deal. Under a design-build contract, the new work will be performed by an all-star team of architect Gensler and joint-venture builders Turner and Clayco. Blackstone estimates that it will create some 2,500 jobs.

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