September 19, 2011
Today it was confirmed that the Wrigley Building has been purchased in a joint venture that includes investor Byron Trott of BDT Capital Partners, Zeller Realty Group and the co-founders of Groupon Inc., Brad Keywell and Eric Lefkofsky. We first reported the potential acquisition of Chicago's iconic Wrigley Building in August, and a month later, it appears the deal is done.
Crain's Business is reporting the Wrigley building will be renovated and updated by Zeller Realty and that Lightbank, the venture firm run by the Groupon co-founders, might use the space for its startups which include Groupon, BabbaCo, Gtrot, Zaarly and more. None of these updates have been confirmed, but we'd sure love to see startups take over this prime Michigan Avenue real estate.
This purchase is a historic “changing of the guard” in terms of the business leadership in the city of Chicago, as these high profile entrepreneurs look to put a stake in the ground (in this case a historic building) and redefine the city as a hub for tech and business innovation.
Terms of the transaction were not disclosed.
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