For Sale: Chicago’s Hancock Center Offices, Parking and Name

Naming rights to the 100-story Magnificent Mile tower accompany the 908,000 sq. ft. of office space now for sale

September 26, 2017

Antonio Perez / Chicago Tribune

Chicago’s iconic John Hancock Center office space and parking are for sale in a possible $330 million-plus deal that could lead to a name change.

Brokers representing a venture led by Chicago-based developer Hearn Co., the property’s owner, have begun marketing the Hancock’s 717-space parking garage and about 908,000 sq. ft. of office space to prospective buyers, Hearn Co. said. One potential revenue generator is the option to sell naming rights to the 100-story tower.

If the new owner goes that route, it would be the highest-profile renaming of a Chicago skyscraper since the deal to change the city’s tallest building from Sears Tower to Willis Tower in 2009.

(more on potential name change for Hancock Center . . . )

White Cap has also acquired Crimson Steel Supply, LLC (Crimson Steel), a distributor and fabricator of engineered steel rebar and structural steel products serving non-residential and infrastructure end markets.

White Cap Expands Reach in Oklahoma, Oregon

White Cap has acquired Bend Construction - a supplier of struts, fasteners, anchors, and concrete accessories and products - and Crimson Steel - a distributor and fabricator of engineered steel rebar and structural steel products.

The Port of Baltimore is used by many of the largest construction machinery manufacturers.

Construction Supply Chain and the Baltimore Bridge Collapse

How much will construction and other supply chains be impacted by the collapse of the Baltimore Bridge and the suspension of traffic through the Port of Baltimore? End users may temporarily face delays and increases.

Emerging technologies and advancements including visual intelligence, sensors, Internet of Things (IoT) devices, robotics, immersive collaboration and 3D printing are surging in popularity among contractors and construction professionals.

Construction Trends for 2024

While the industry will continue to go through transformation like many others, those willing to marry the fundamentals of the craft with new technology and sustainable building methods can continue to experience great success in 2024 and beyond.

Rental Snapshot Tom Butts of Nor-Cal Equipment Rentals

Rental Snapshot: A Desire to be Unique

Celebrating its 20th anniversary in 2024, Nor-Cal Equipment Rentals has evolved into a unique, electrifying company. Part of that ingenuity comes from owner Tom Butts, who shares his insights in this month’s Rental Snapshot.

Reputable sellers, UCC searches, and ensuring all paperwork is accounted for are all good practices to follow.

Buying Used Concrete Equipment? Beware of Hidden Liens

There's an uncommon-but-real issue that could crop up when buying any type of used equipment, and that’s buying equipment that unknowingly has a lien on it.

Shortly after its origin, the Cary-Lift product line was acquired by Pettibone, and it remains a popular solution for pipe, pole, and log handling to this day.

Pettibone Celebrates 75th Anniversary of Cary-Lift

Pettibone announced that it is celebrating the 75th anniversary of the creation of the Cary-Lift.

Terry Harris began his career in the concrete industry in 1979 and has more than four decades of experience with ready mixed concrete, precast, masonry, and admixtures.

Concrete Industry Veteran Earns Leadership Award

National Ready Mixed Concrete Association established the Shydlowski-Turner Materials Leadership Award to honor an individual who, as a materials supplier to the ready mixed concrete industry, exemplifies leadership, commitment, and support for industry.

Unicontrol and Level Best, united in their commitment to driving innovation and efficiency in the construction industry, aim to push the boundaries of construction technology, setting new benchmarks for excellence as the industry becomes increasingly receptive to these advancements.

Unicontrol to Integrate 3D Tech With Level Best Equipment

By integrating Unicontrol's 3D machine control system with Level Best's precision grading equipment, this partnership aims to raise standards in machinery efficiency and usability.

The electric-powered excavator can be charged rapidly using the PowerTree.

DEUTZ Highlights Eco-friendly Parts, Software

The company will showcase the TCD 3.9 engine in the sub-4 liter category along with an electric excavator, powered by DEUTZ Electric System, and the DEUTZ PowerTree mobile rapid charging system at INTERMAT.

Gerrit Marx.

CNH Names CEO

Gerrit Marx will succeed Scott Wine as of July 1.

Deere3

Deere, Purdy Search for Chief Tractor Officer

To apply, candidates must submit a short-form video with their pitch for the position, showing the creativity, humor, and passion they’d bring to the job.

White Cap has also acquired Crimson Steel Supply, LLC (Crimson Steel), a distributor and fabricator of engineered steel rebar and structural steel products serving non-residential and infrastructure end markets.

White Cap Expands Reach in Oklahoma, Oregon

White Cap has acquired Bend Construction - a supplier of struts, fasteners, anchors, and concrete accessories and products - and Crimson Steel - a distributor and fabricator of engineered steel rebar and structural steel products.

Adobe Stock 226955427

Designing an Effective Hiring Process

Getting the right people on your team is critical to the sustainability of your business. High turnover rates or underperforming team members can have a detrimental impact on your business and profitability.

Kemp Tour 2

Club Car Opens UTV Factory in US

Club Car has opened a new factory in the state of Georgia that will be used for producing popular utility task vehicles (UTVs) that are powered electrically.

Changing Colors: Yanmar Turns to Red

As part of the company's shift in market approach, execs explain the strategy behind the brand's 2020 departure from conventional yellow machine livery to today's Premium Red.

Located in Apodaca, a city in the Monterrey metropolitan area, the site was strategically selected to supply OEM customers with products and services such as tire mounting, sequencing, just-in-time supply and warehousing on a local basis.

OTR to Open Factory in Mexico

Located in Apodaca, a city in the Monterrey metropolitan area, the site was strategically selected to supply OEM customers with products and services such as tire mounting, sequencing, just-in-time supply and warehousing on a local basis.

The new facility, focused on high complexity and high variation specialty fifth wheel manufacturing, will include the current SAF-HOLLAND Wylie, Texas operation.

SAF-HOLLAND to Build New Factory in Texas

The new Rowlett facility is the next phase of the SAF-HOLLAND manufacturing optimization and vertical integration strategy to increase capacity output that began with the opening of its Piedras Negras, Coahuila, Mexico plant in August 2023.

Volvo Ce Pioneers E Shuttle Service To Cut Transport Emissions 660d7bf383081

Volvo Construction Testing Out Excavator Delivery in France With E-shuttle

The e-shuttle service is designed to reduce emissions during the first transport leg of construction machines from the Volvo CE factory in France.

Compared to the strong sales of the same period last year, market demand is softening across the globe, with lower deliveries and order intake in Europe and North America compensated slightly by a stronger performance in Asia.

Volvo CE Reports Slow Q1 Sales, Orders

Overall, order intake for the Volvo brand decreased in line with market development in Europe and North America.

Canadian-based tech company Mercator AI has announced it is expanding into the U.S., starting with Texas.

Construction AI Tool Expands to US

Mercator AI, the AI-powered business development tool for commercial general contractors, announced its expansion into Texas.

Tenna

Tenna, Boom & Bucket Partner on Integration for Equipment Valuations

The strategic partnership and integration aims to enhance a construction business’ ability to manage the lifecycle of their owned fleet.

Preliminary net trailer orders decreased nominally from February to March.

Trailer Orders Down 24% YoY

Industry experts expect truck trailer orders to face a year of transition.

Fires. Tornadoes. Water damage. All of these disasters, and other unexpected events, often lead to large property losses that can devastate businesses.

3 Tips for Managing Economic Risks on Construction Projects

While you can’t eliminate risk entirely, you can take steps to help reduce it, avoid it and protect against it.

Worker safety is an area where confirmation bias can have the most disastrous effects, exposing workers all types of potential dangers.

Overcoming Confirmation Bias in Construction Project Management

Confirmation bias can be particularly problematic in project and schedule management, where decisions must be based on accurate and comprehensive information.

The awards will be presented at the 2024 ASCC Annual Conference scheduled to take place Sept. 18–21.

ASCC Opens Annual International Decorative Concrete Council Awards Program

The Sixteenth Annual International Decorative Concrete Council Awards program for 2024 recognizes and celebrates exceptional decorative concrete projects from around the globe.

Specific details regarding the actual price change will be communicated directly to customers by Trelleborg tires representatives in each market.

Trelleborg Tires to Implement Price Increases

Trelleborg tires will increase prices globally by up to 5% across all segments.

When a prospective site can be made suitable for building by extending utilities (such as water, electricity or gas lines) or infrastructure (such as paving or rail services), funding may be available to offset these costs.

Jobsite Due Diligence Can Prevent Costly Delays

Good building sites remain on the market. But many of those sites must be made good with early planning and intervention.