The Wacker Drive buildings along the Chicago River are known for their imposing heights and dramatic architecture meant to be soaked in, perhaps from an architecture river cruise — save for a few exceptions, like the squat little General Growth Building. At five floors, it's not winning any height awards. However, that may soon change, as Crain's is reporting that a recent sale means that the Howard Hughes Corp now owns both the building and the land. So why does this matter? Hughes can now begin plans to redevelop the property into something new in order to extract more revenue out of the valuable real estate. General Growth still has their lease in the building until 2019, so a new development may still be a long ways off. At least it's sooner than another possible Chicago Olympic bid.
·Sale clears obstacle for potential Wacker Drive tower [Crain's Chicago Business]
·Previous Loop coverage [Curbed Chicago]