The John Hancock Center's Name Could Be Changing: Report

Chicago’s iconic John Hancock Center could soon be under new ownership – and boasting a new name, according to a report.

Developer Hearn Co., the property owner, has begun marketing the building’s office space and parking garage to prospective buyers, the Chicago Tribune reports.

The newspaper reported in May that the real estate is believed to be worth more than $330 million, more than double what CEO Stephen Hearn paid in 2013.

The retail and restaurant space, condominiums, observatory and antennae atop the tower are all owned separately from the offices and garage, the Tribune reports.

According to the Tribune, the parking garage spans nine floors of the building (from levels four through 12) and contains 717 spaces.

The offices available include 908,000 square feet of space on floors 13 to 41 that are about 86 percent leased, the Tribune reports.

Naming rights could generate $1.5 million or more in revenue each year, Hearn told the Tribune.

The John Hancock Center is the city’s fourth-tallest building standing at 1,128 feet.

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