Tribune Media to Move Out of Tribune Tower Next Year

CHICAGO, IL — Tribune Media will be moving out of its eponymous home on North Michigan Avenue — the Tribune Tower — to a new place in the Illinois Center across the Chicago River next year, according to Crain's Chicago Business.

The new headquarters of the broadcast and digital media company will be on the 17th and 18th floors of the 28-story building at 303 E. Wacker Dr., the report stated. The move is expected to happen by mid-2017, the report added.

In September, CIM Group, a Los Angeles-based developer, finalized a deal to buy the 36-story Tribune Tower— as well as a parking lot and the Chicago Tribune's old printing plant — for $205 million, with another $35 million to be paid if certain conditions are met. The group plans to turn the 3-acre property into a mixed-use development that would include spaces for retail outlets, residential units, offices and possibly a hotel.

RELATED: Tribune Tower Sale Finalized; Does a New Owner Mean a New Name?

Tronc, the company formerly known as Tribune Publishing, is the tower's largest tenant. The company's lease runs out in 2018.

More via Crain's Chicago Business

The Tribune Tower (photo by Luke Gordon | Wikimedia Commons)

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