Tallest-building sale fails
The owner of the world’s tallest building has given up trying to sell the 110-storey Sears Tower, saying it would instead take out a new loan on the Chicago building that some believe has become a second-rate property. In what might be described as the commercial equivalent of a home equity loan, Sears, Roebuck and Company said it would take a new mortgage on the 15-year-old tower and related nearby properties under an arrangement that will bring the company SUSBIS million (JNZI3B4M). It was put on the market more than a year ago with experts putting a SUSI billion (SNZI.7B) price tag on it.
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Press, 20 November 1989, Page 13
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107Tallest-building sale fails Press, 20 November 1989, Page 13
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