EQ Office, a unit of private equity powerhouse Blackstone, has finally completed its $500-million-plus, street-to-sky transformation of Chicago’s Willis Tower, hoping the facelift will ensure the world famous skyscraper’s future as a top destination for world class corporations.
“Our investment in Willis Tower is an investment in Chicago, a world-class city full of talent, determination, and opportunity,” said David Moore, SVP, portfolio director, EQ Office. “We have reimagined and modernized this iconic tower to better serve the city, the Loop neighborhood, and the diverse set of companies and their employees that call it home.
The role of the office and the way that people work has evolved over these past few years, and our focus on creating a human-centered workplace with unmatched activation and energy will ensure that Willis Tower continues to inspire our city and its workforce for decades to come.”
“The reinvented Willis Tower is a perfect example of what we believe the future of work looks like,” said Kathleen McCarthy, global co-head of Blackstone Real Estate. “We are proud that, as a result of this project, Willis Tower will continue to thrive as a place where some of the world’s best companies and their brightest minds come together, while serving as a wonderful space for the community in downtown Chicago.”
But the renovation started in 2017, long before the COVID epidemic totally transformed the nature of going to the office and, indeed, work itself. So it remains to be seen if the huge expense and effort pays off for Blackstone.
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