The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. The Willis Tower is not only an innovator in promoting green practices among its tenants, but also stands as a leader among American skyscrapers in increasing energy and water efficiency and reducing waste. Why is the Willis Tower important to America? BEFORE THE TOWER COULD BE BUILT, SEARS HAD TO BUY A STREET. In 1994, Sears transferred effective control of the tower to its two creditors and vacated the premises by the following year. How did Sears take over the Willis Tower?īut unable to find a buyer, Sears borrowed $850 million from AEW Capital Management and insurance company MetLife, essentially using the building as collateral. Sears, Roebuck and Company was incorporated in 1893 by Richard Warren Sears and Alvah Curtis Roebuck. This company, who commissioned the building as their new headquarters in the early 1970s, played an integral role to the final form and size of the Tower. Originally, the Willis Tower was called the Sears Tower, after Sears, Roebuck & Company. What was the original name of the Willis Tower? The name change will stand for the duration of their ten year lease. In 2010, the building was renamed the Willis Tower after Willis Group Holdings, a London insurance broker and currently the largest tenant of the tower. Is the Sears Tower still called the Sears Tower? How did the Sears Tower get its name? Who made Sears Tower?īuilt for Sears, Roebuck and Company, the structure reaches 110 floors and a height of 1,450 feet (442 metres), excluding broadcast antennas and their supports, and provides more than 400,000 square metres (roughly 4.3 million square feet) of floor space for offices and other activities. The London-based insurance broker will be rebranded under the Aon banner when Aon’s $30 billion deal to acquire Willis closes, slated for the first quarter of 2021. Willis Towers Watson took over naming rights to the building in 2009. In 1988, Sears Roebuck and Company sold and moved out of the building, but the Sears Tower name remained until 2009 when the building was renamed after the Willis Group, a London- based global insurance broker. Willis Tower: Formerly known as the Sears Tower, Chicago’s tallest skyscraper was built in 1970 by Sears, Roebuck & Co., then the largest retailer in the world. Which tower was formerly called Sears Tower? It was named the Sears Tower until 2009, serving as the headquarters of retail company Sears from its opening in 1974 to 1994…. Why did the Willis Tower change its name?
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