Sears Tower to Be Renamed Willis Tower

Whatchu talkin’ About, Willis?

The naming rights to the western hemisphere’s tallest building have been handed over to a London-based insurance broker that will move 500 employees into the Chicago skyscraper, Crain’s Chicago Business reported Thursday.

Willis told Crain’s that they are paying $14.50 per square foot in the 110-story building, but is not paying extra for the naming rights.

"They own the building," Chicago Mayor Richard M. Daley said. "They should name it, sure. Sears moved out a long time ago."

The tower was the world's tallest building until 1996, when it was surpassed by the Petronas Towers in Kuala Lumpur, Malaysia.

Click here for more on this story from Crain’s Chicago Business.