The co-founders of Groupon, Brad Keywell and Eric Lefkofsky, are negotiating the possibility of buying the historic Wrigley Building in Chicago, according to several media reports.
Market Watch reported that Brad Keywell and Eric Lefkofsky are in discusses with Wrigley parent Mars. They may purchase the Michigan Avenue property as a new headquarters for Groupon and other tech start-up firms owned by them.
Groupon currently operates in the former Montgomery Ward & Co. building. Between 2,000 and 3,000 of it 7,000 employees are based in Chicago.
Wrigley was purchased by Mars in 2008, and the company said just last month that it was moving its headquarters and might sell its building.
Market Watch reports that Wrigley told Crain’s Chicago Business that they haven’t made a deal yet. Then, a Groupon spokesman said the daily deal company hasn’t made any plans to move to a new office space.
Whether there is a deal going on or not, Groupon has outgrown their space, and they do need more room. Plus, such a high-profile headquarters would give Groupon a better image and distinguish itself from the growing competition of other daily deal sites.
The 89-year old building may be worth, according to real estate experts, an estimated $35 million to $45 million.
The building is up for sale, and Groupon has a chance to make an offer. According to Crain’s Chicago Business, Mar has been talking to other interested buyers not just Keywell and Lefkofsky.
The Wall Street Journal reported Keywell and Lefkofsky are interested in purchasing the Wrigley building for Lightbank, their private investment firm. But Groupon won’t be part of those plans because they still have a lease with their current location until 2017.