{"id":56444,"date":"2025-07-11T09:05:10","date_gmt":"2025-07-11T09:05:10","guid":{"rendered":"https:\/\/www.europesays.com\/us\/56444\/"},"modified":"2025-07-11T09:05:10","modified_gmt":"2025-07-11T09:05:10","slug":"ownership-of-sears-tower-handed-to-its-lender","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/56444\/","title":{"rendered":"Ownership of Sears Tower handed to its lender"},"content":{"rendered":"<p>Here\u2019s a look back at what happened in the Chicago area on July 11, according to the Tribune\u2019s archives.<\/p>\n<p>Is an important event missing from this date? <a href=\"https:\/\/www.chicagotribune.com\/2025\/07\/11\/chicago-history-july-11\/mailto:krumore@chicagotribune.com\" rel=\"nofollow noopener\" target=\"_blank\">Email us<\/a>.<\/p>\n<p><strong>Weather records <\/strong>(from the <a href=\"https:\/\/www.weather.gov\/wrh\/climate?wfo=lot\" rel=\"nofollow noopener\" target=\"_blank\">National Weather Service, Chicago<\/a>)<\/p>\n<ul>\n<li>High temperature: <strong>97 degrees<\/strong> (1936)<\/li>\n<li>Low temperature: <strong>50 degrees<\/strong> (1996)<\/li>\n<li>Precipitation: <strong>1.81 inches<\/strong> (1922)<\/li>\n<li>Snowfall: <strong>None<\/strong><\/li>\n<\/ul>\n<p><strong>1915:<\/strong>\u00a0<a href=\"https:\/\/enews.chicagotribune.com\/q\/rOx0UT5fBlU0YtQG5xmkNnzAIwmuqrWJEt87ZcOJa2pydW1vcmVAZ21haWwuY29tw4gFlUWYAa6c5gLPT2msJsGDXBZVEw\" target=\"_blank\" rel=\"noopener nofollow\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/enews.chicagotribune.com\/q\/rOx0UT5fBlU0YtQG5xmkNnzAIwmuqrWJEt87ZcOJa2pydW1vcmVAZ21haWwuY29tw4gFlUWYAa6c5gLPT2msJsGDXBZVEw&amp;source=gmail&amp;ust=1752258134627000&amp;usg=AOvVaw3U5mlo7h67bHn2DtDbMClT\">\u201cJazz\u201d<\/a>\u00a0was used in the Tribune to describe music for\u00a0<a href=\"https:\/\/enews.chicagotribune.com\/q\/7tg0y_Skzst0YTi4GgBkx03XRQe0siUWNfUaZcOJa2pydW1vcmVAZ21haWwuY29tw4gHed3L-dNdY8Lm_cQ1BJe0vB3ncg\" target=\"_blank\" rel=\"noopener nofollow\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/enews.chicagotribune.com\/q\/7tg0y_Skzst0YTi4GgBkx03XRQe0siUWNfUaZcOJa2pydW1vcmVAZ21haWwuY29tw4gHed3L-dNdY8Lm_cQ1BJe0vB3ncg&amp;source=gmail&amp;ust=1752258134627000&amp;usg=AOvVaw2rU1wcf_6KslP64mkSxRgz\">one of the first times<\/a>\u00a0in history.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"lazyautosizes lazyload\" alt=\"A sailboat departs Chicago on Lake Michigan in the Race to Mackinac on July 12, 2003. (Milbert O.Brown\/Chicago Tribune)\" width=\"1312\" height=\"727\" data- src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/CTC-L-MACRACE_SPT-071303-P14-JMK_190198595.jpg\" data-attachment-id=\"24925406\" \/>A sailboat departs Chicago on Lake Michigan with the skyline showing Sears Tower on July 12, 2003. (Milbert O.Brown\/Chicago Tribune)<\/p>\n<p><strong>2003:<\/strong> <a href=\"https:\/\/www.chicagotribune.com\/2023\/04\/30\/willis-tower-is-no-longer-the-tallest-building-in-the-world-but-its-still-a-trendsetter-as-it-turns-50-this-week\/\" rel=\"nofollow noopener\" target=\"_blank\">Sears Tower<\/a> was <a href=\"https:\/\/www.chicagotribune.com\/2003\/07\/11\/sears-tower-likely-to-go-to-its-lender\/\" rel=\"nofollow noopener\" target=\"_blank\">transferred to its lender<\/a> (Metlife Inc.) to prevent the skyscraper\u2019s owner (Trizec) from defaulting on its massive mortgage.<\/p>\n<p>Anxiety over a possible terrorist attack on the world\u2019s then second-tallest building dramatically reduced the attractiveness of the 110-story tower at 233 S. Wacker Drive to some existing tenants and many prospective ones.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"23ZurkmOVC\">\n<p><a href=\"https:\/\/www.chicagotribune.com\/2022\/06\/26\/vintage-chicago-tribune-history-of-tower-built-by-sears-reflects-highs-and-lows-of-citys-business-hub\/\" rel=\"nofollow noopener\" target=\"_blank\">Vintage Chicago Tribune: History of Tower built by Sears reflects highs and lows of city\u2019s business hub<\/a><\/p>\n<\/blockquote>\n<p>Real estate magnate Joseph Chetrit, developer Joseph Moinian and Skokie-based American Landmark Properties bought the tower for $840 million in 2004. <a href=\"https:\/\/www.chicagotribune.com\/2015\/03\/16\/willis-tower-to-be-sold-for-13-billion-to-blackstone-group\/\" rel=\"nofollow noopener\" target=\"_blank\">Blackstone Group<\/a> purchased it in 2015. Sears <a href=\"https:\/\/www.chicagotribune.com\/2021\/09\/16\/sears-timeline-rise-fall-and-restructuring-of-a-chicago-icon-over-130-years\/\" rel=\"nofollow noopener\" target=\"_blank\">gave up ownership<\/a> of its namesake tower in November 1994.<\/p>\n<p>Though it remains popularly known by its maiden name, it was officially renamed <a href=\"https:\/\/chicagotribune.newspapers.com\/article\/chicago-tribune-tower-title-holds-power\/176364157\/\" rel=\"nofollow noopener\" target=\"_blank\">Willis Tower<\/a> for a London-based insurance brokerage in 2009.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"lazyautosizes lazyload\" alt=\"A tree recognized as the oldest in the village of Wilmette sits in pieces after it was destroyed by a fierce storm on July 11, 2011. The so-called &quot;Bicentennial Ash&quot; in Gillson Park existed since 1746. A plaque commemorated its status. (Terrence Antonio James\/ Chicago Tribune)\" width=\"3000\" height=\"317\" data- src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/CTC-L-MET-AJ-AFTER-1-GREEN-ASH_188999329.jpg\" data-attachment-id=\"24925689\" \/>A tree recognized as the oldest in the village of Wilmette sits in pieces after it was destroyed by a fierce storm on July 11, 2011. The so-called &#8220;Bicentennial Ash&#8221; in Gillson Park existed since 1746. A plaque commemorated its status. (Terrence Antonio James\/Chicago Tribune)<\/p>\n<p><strong>2011:<\/strong> Up to 75 mph winds ripped down power lines, tossed trees onto roads and railroad tracks and forced businesses to close for the day. During the storm\u2019s peak, it was estimated <a href=\"https:\/\/www.newspapers.com\/article\/chicago-tribune-storm-slaps-chicago-lea\/176358891\/\" rel=\"nofollow noopener\" target=\"_blank\">868,000 ComEd customers<\/a> were without power \u2014 more than in any storm in at least the previous decade. Despite the winds, the storm brought little rain.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"EGNFwvBe3L\">\n<p><a href=\"https:\/\/www.chicagotribune.com\/2021\/07\/29\/it-almost-sounded-like-a-hurricane-derecho-weather-events-in-the-chicago-area-since-1965\/\" rel=\"nofollow noopener\" target=\"_blank\">\u2018It almost sounded like a hurricane\u2019: Derecho weather events in the Chicago area since 1965<\/a><\/p>\n<\/blockquote>\n<p>One Union Pacific North line train was stuck for hours on the tracks after tree limbs and fallen power lines blocked it. It was scheduled to arrive at Ogilvie Transportation Center at 9:05 a.m., but didn\u2019t arrive until about 2 p.m.<\/p>\n<p>Several Cook County jail inmates and a Cook County sheriff\u2019s deputy were injured while dismantling a festival tent as part of a community service project in Palos Hills, but not seriously.<\/p>\n<p>Want more vintage Chicago?<\/p>\n<p>Subscribe to the free\u00a0<a href=\"https:\/\/membership.chicagotribune.com\/newsletters\/subscribe\/lid\/2d8200fe-eefd-4f1d-bcaa-26a0ce79a461\" target=\"_blank\" rel=\"noopener nofollow\" data-mrf-link=\"https:\/\/membership.chicagotribune.com\/newsletters\/subscribe\/lid\/2d8200fe-eefd-4f1d-bcaa-26a0ce79a461\">Vintage Chicago Tribune<\/a>\u00a0newsletter, join our\u00a0<a href=\"https:\/\/www.facebook.com\/groups\/762760217263236\/\" target=\"_blank\" rel=\"noopener nofollow\" data-mrf-link=\"https:\/\/www.facebook.com\/groups\/762760217263236\/\">Chicagoland history Facebook group,<\/a> stay current with<a href=\"https:\/\/www.chicagotribune.com\/tag\/chicago-history\/\" rel=\"nofollow noopener\" target=\"_blank\"> Today in Chicago History<\/a> and follow us on <a href=\"https:\/\/www.instagram.com\/vintagetribune\/\" target=\"_blank\" rel=\"noopener nofollow\" data-mrf-link=\"https:\/\/www.instagram.com\/vintagetribune\/\">Instagram<\/a>\u00a0for more from Chicago\u2019s past.<\/p>\n<p>Have an idea for Vintage Chicago Tribune? Share it with Kori Rumore and Marianne Mather at <a href=\"https:\/\/www.chicagotribune.com\/2025\/07\/11\/chicago-history-july-11\/mailto:krumore@chicagotribune.com\" rel=\"nofollow noopener\" target=\"_blank\">krumore@chicagotribune.com<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.chicagotribune.com\/2025\/07\/11\/chicago-history-july-11\/mailto:mmather@chicagotribune.com\" rel=\"nofollow noopener\" target=\"_blank\">mmather@chicagotribune.com<\/a><\/p>\n<p>Originally Published: July 11, 2025 at 4:00 AM CDT<\/p>\n<p><script async src=\"\/\/www.instagram.com\/embed.js\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"Here\u2019s a look back at what happened in the Chicago area on July 11, according to the Tribune\u2019s&hellip;\n","protected":false},"author":3,"featured_media":56445,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5124],"tags":[960,6387,13179,5386,1818,10607,41378,41379,41380],"class_list":{"0":"post-56444","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-chicago","8":"tag-chicago","9":"tag-chicago-history","10":"tag-derecho","11":"tag-il","12":"tag-illinois","13":"tag-jazz","14":"tag-july-11","15":"tag-sears-tower","16":"tag-willis-tower"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/56444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=56444"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/56444\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/56445"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=56444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=56444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=56444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}