Last August, I wrote about Groupon co-founders Eric Lefkofsky and Brad Keywell intent on purchasing Chicago’s Wrigley Building. It is official. The building has been sold to a consortium of investors including Zeller Realty Group and Groupon co-founders.
The specific terms of the sale have not been disclosed and, as mentioned before, it comes after quite a bit of speculation that Lefkofsky and Keywell were eyeing the historic building. According to the Chicago Sun-Times, neither Groupon nor the duo’s investment business, Lightbank, will be relocating to the building any time in the near future. “Their plans appear to be to continue to lease the building for offices while improving retail offerings on its ground floor.”
The consortium plans to preserve the legacy of the Wrigley Building and is committed to a successful re-development of the architectural treasure and ensures that it remains a vital part of Chicago’s future progress. The consortium is even seeking landmark status for the property.
It will be interesting to see what the consortium decides to do with the building after its main tenants, Wm. Wrigley Jr. Company, vacate the property when it completes the move of its full operation to its Goose Island base by the end of 2012. Once Wrigley is out of the building, it will only be 35 percent occupied.
How Groupon plays a part of this scheme is hard to say – perhaps Groupon has nothing to do with it at all.