Willis Wants Sears Tower Tax Break Too

Willis Group Holdings wants TIF money as encore to name change

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    NEWSLETTERS

    TK
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    After changing the name of Sears Tower, Willis is also asking for a tax break.

    First they changed the name and now they want a tax break. Really?!?

    Willis Group Holdings Ltd., the insurance brokerage folks across the pond who are moving into the city's beloved Sears Tower, are now asking for a $3.8-million handout to cover costs of moving into their new digs, according to Crain's.

    It didn't take long for the London-based company to figure out how to take advantage of Chicago's tax increment financing (TIF) program, did it?  

    A New York-based Willis spokesman told Crain's he knew the company had requested a subsidy, but didn’t have details.

    In March, Willis announced it would be moving 500 employees into more than 140,000 square feet of the 110-story building much to the frustration of those who found the name change offensive to local sensibilities.