October 9, 2015 Last Updated 11:50 am

Tribune Media puts historic Tribune Tower on the market

Tribune Media’s historic building on Michigan Avenue is to be put up for sale, another victim of the recent spin-off of the broadcast and print sides of the business.

TribTower-smTribune Media, the broadcast side of the former Tribune Company, is the owner (the print side didn’t get either the real estate nor the digital properties, but they did manage to get a debt load).

Tribune Media recently also sold the printing plant for The Baltimore Sun, another Tribune Publishing property.

“The global renown of this building, its unparalleled location and development potential make this an incredible opportunity and we are expecting a high level of interest from a broad range of private and institutional investors and developers,” said Murray McQueen, President of Tribune Real Estate Holdings in the announcement for the sale.

Tribune Real Estate said it will explore “all transaction options with a goal of maximizing proceeds to the company while creating a compelling mixed-use destination for the city.”

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