CHICAGO_The Chicago Tribune will move next year, ending a 93-year run in the newspaper's namesake tower on North Michigan Avenue.
Parent company Tronc Friday confirmed that the newspaper will move to One Prudential Plaza in the second quarter of 2018. The Tribune first reported in August that Tronc was in advanced negotiations for a lease in the 41-story building overlooking Millennium Park.
Prudential Plaza is a few blocks south of Tribune Tower, the newspaper's home since the landmark building was completed in 1925. "While moving is always difficult, and leaving our home since 1925 brings a sense of nostalgia, this is a wonderful opportunity to create the next generation newsroom and an overall energetic and inviting environment for our entire team," Tronc CEO Justin Dearborn said in an email to employees.
The newspaper is moving because Tribune Tower was sold last year. The buyers, Los Angeles-based CIM Group and Chicago's Golub & Co., are expected to redevelop the building and are believed to be planning a second tower just east of it. They have not publicly announced their plans.
Broadcast company Tribune Media had been the Chicago Tribune's landlord until it sold the property, and the newspaper's lease expires June 30.
One Prudential Plaza is part of a two-building complex just east of Michigan Avenue that also includes the 61-story Two Prudential Plaza. Prudential Plaza is owned by New York-based 601W Cos., but Chicago developer Sterling Bay is in the process of buying the complex for about $680 million.
Tronc was represented in the Prudential Plaza lease by Jones Lang LaSalle brokers including David Miller and Meredith O'Connor. 601W was represented by Matt Pistorio and Bill Truszkowski of Telos Group.
