Willis Tower
Willis Tower is a 110-story Class-A commercial office building in Chicago owned by Blackstone's Perform Properties, offering flexible office leasing, the Skydeck observation deck, the Catalog retail and dining destination, TONE fitness, and event venues to enterprise tenants, SMBs, and 1.7 million annual visitors.
- Company typePrivate
- Founded1973
- HeadquartersChicago, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What Willis Tower does
Willis Tower is a 110-story Class-A commercial office building located at 233 South Wacker Drive in Chicago, Illinois, operated by Perform Properties, a Blackstone Real Estate platform. Originally known as the Sears Tower, the asset was acquired by a Blackstone-led partnership in 2015 and remains one of the most globally recognized skyscrapers in commercial real estate. Perform Properties oversees operations, asset management, leasing, and the integrated amenity stack across office, retail, and tourism revenue streams.
The building offers flexible office leasing on contracts ranging from 1 month to 5+ years, accommodating both established corporates (including Fifth Third Bank, Group One Trading, and the Regional Transportation Authority) and smaller tenants, with options spanning single offices to full floors. Catalog, a 300,000-square-foot retail and dining destination on the lower floors, hosts a curated mix of established and emerging consumer brands and was refreshed in 2025 with CAVA, Mendocino Farms, Van Leeuwen Ice Cream, Foxtail Market, Maple & Ash, and Mediocre. The Skydeck on the 109th floor attracts approximately 1.7 million visitors annually, and complementary amenities include the 110th floor rooftop, TONE fitness club, and Convene event venue, collectively serving roughly 15,000 daily tenants and visitors.
Revenue mechanics combine long-duration office leases with shorter-duration flex leases, retail rent, and consumer-driven income from admissions, fitness memberships, and event bookings. The property achieved LEED Platinum certification in 2022 with an 81-point score, the highest for a skyscraper, leveraging sustainability as a differentiator for enterprise tenants. A $500M renovation completed that year modernized common areas, mechanical systems, and amenity infrastructure to reposition the asset in Chicago's Class-A market.
Willis Tower firmographics
Firmographics- Name
- Willis Tower
- Legal name
- Perform Properties
- Website
- https://willistower.com
- Company type
- Private
- Founded year
- 1973
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Willis Tower is a 110-story Class-A commercial office building in Chicago owned by Blackstone's Perform Properties, offering flexible office leasing, the Skydeck observation deck, the Catalog retail and dining destination, TONE fitness, and event venues to enterprise tenants, SMBs, and 1.7 million annual visitors.
- Ownership category
- akta.pro rank
Willis Tower industry classification
Industry- Product category
- Commercial Real Estate
- NAICS
- Lessors of Nonresidential Buildings (except Miniwarehouses) (531120)
- SIC
- Operators Of Nonresidential Buildings (6512)
- akta.pro primary industry
- Observation Decks & Viewing Platforms (THAJACAA)
Keywords
Where Willis Tower is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Willis Tower business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D
Revenue model
- Office Space Leasing: Willis Tower generates primary revenue from leasing office spaces to businesses ranging from small companies to Fortune 100 enterprises. The property offers flexible leasing options from one month to five years, with move-in ready suites of various sizes.
- Retail Space Leasing: Catalog is a five-level, 300,000-square-foot retail, dining, and entertainment destination at the base of Willis Tower. Revenue comes from leasing retail spaces to brands and restaurants.
- Skydeck Observatory: The 103rd-floor Skydeck attracts approximately 1.3 million visitors annually, offering admission-based experiences including The Ledge glass floor boxes extending 4.3 feet from the building at 1,353 feet in the air.
- TONE Fitness Center Membership: Tenant-exclusive 30,000 square foot fitness center on the 33rd floor offering group fitness classes, personal training, and wellness services. Membership is $35/month with group classes included.
- Event Space Rental: Willis Tower offers event spaces including the 99th Floor (8,000 sq ft, panoramic views, up to 300 guests), Steel Room (up to 150 guests), Tower House Conference Center (up to 250 guests), and outdoor terrace.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | TONE Fitness Center membership - tenant-exclusive premium health club |
| Subscription | Monthly | Bike valet parking for tenant employees |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels7 records
Willis Tower product offering
Product offeringCore offering
Willis Tower is a 110-story Class-A commercial office building and mixed-use urban destination in Chicago's Loop. It generates revenue primarily by leasing flexible office space (one month to five-year terms) to companies ranging from solo founders to Fortune 100 enterprises, leasing retail and dining space through the five-level Catalog destination, operating the Skydeck observation attraction on the 103rd floor, and offering tenant-exclusive amenities such as the TONE Fitness Center, Tower House, Convene meeting spaces, and event venues including the Steel Room and 99th Floor.
Product overview
Willis Tower is a 110-story commercial office building and urban destination in Chicago offering a unified platform of workplace and lifestyle services. The core offering comprises Class-A office leasing with flexible terms, supplemented by a portfolio of amenity modules including Catalog (a five-level dining, retail, and entertainment destination), Skydeck observation deck, TONE Fitness Center, Tower House conference facilities, Altitude tenant lounge, The Terrace outdoor greenspace, and event venues like the Steel Room and 99th Floor. The My Willis Tower App provides tenant access to services. The building underwent a $500M transformation completed in 2022, creating an integrated workplace-entertainment destination.
Differentiator
Problem solved
Functional benefit
Brands
- Catalog: Five-level urban destination for dining, retail, and entertainment featuring 300,000 square feet of attractions including a 30,000-square-foot outdoor terrace. Named as a historical nod to the original developer Sears Roebuck and its popular printed catalog.
- Skydeck
- TONE Fitness
- Convene
- Metropolitan Club
- Altitude
- Tower House
- Steel Room
Products and services
- Willis Tower Office Space Leasing Class-A commercial office space across 110 stories with flexible footprints for companies ranging from solo founders to Fortune 100 enterprises. Move-in ready suites with leasing terms from one month to five years. Over 3 million square feet of space commitments attracted post-transformation and more than 15,000 daily building tenants.
- Catalog (Retail and Dining Destination) Five-level urban destination featuring 300,000 square feet of dining, retail, and entertainment attractions, plus a 30,000-square-foot outdoor terrace open to the public and tenants. Leases space to retail brands and restaurants and serves foot traffic from office workers and tourists.
- Skydeck Observation Deck Public observation deck on the 103rd floor offering views of up to four states and featuring The Ledge glass floor balconies. Open 365 days per year, attracting approximately 1.3 million visitors annually, with admission-based ticket sales.
- TONE Fitness Center Tenant-exclusive 30,000-square-foot fitness center on the 33rd floor offering in-person group fitness classes (yoga, HIIT, spin, pilates), one-on-one personal training, complimentary fitness consultations, and recovery amenities including Hyperice and Normatec equipment. Membership priced at $35/month with group classes included.
- Convene at Willis Tower 70,000 square feet of meeting and event space operated in partnership with Convene, offering comprehensive event services and professionally managed facilities for tenants and external clients.
- Metropolitan Club Private club on floors 66 and 67 offering curated, aspirational atmospheres for dining and networking, available to members and select guests.
- Event Venues (Steel Room, 99th Floor, Tower House Conference Center) Multiple bookable event and conference venues: Steel Room accommodates up to 150 guests; 99th Floor offers 8,000 sq ft of private event space with 360-degree panoramic views seating 175 or cocktail reception up to 300; Tower House Conference Center accommodates up to 250 guests with café and bar service.
- Retail Space Leasing at Catalog Leased retail storefronts and restaurant locations within the five-level Catalog destination, marketed to ambitious retail brands seeking a premier downtown Chicago location with access to foot traffic from office workers and tourists.
Quantifiable outcome
- LEED Platinum certification achieved, expected to reduce energy consumption by up to 20% and water consumption by 30%
- +3 more outcomes
Companies that use Willis Tower
Customer profileNamed customers8 records
Segments3 records
Ideal customer profiles3 records
Willis Tower technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature3 records
Willis Tower partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered primary, secondary and minor.
- Telos Group LLCprimaryExclusive office leasing broker for Willis Tower. Team of four brokers handling all office leasing inquiries, viewings, and deal negotiations.
- SavillsprimaryExclusive retail leasing broker for Catalog at Willis Tower. Team of three brokers managing all retail space leasing for the five-level dining and entertainment destination.
- IndustrioussecondaryCoworking operator providing access to fully furnished private office and suite options at Willis Tower. Offers flexible short-term workstation solutions for companies needing immediate space.
- ConvenesecondaryProvides 70,000 square feet of meeting and event space in Willis Tower. Offers professionally managed meeting rooms and event spaces for tenants and external clients.
- BOMA ChicagominorWillis Tower partners with BOMA Chicago annually to host a holiday food drive benefiting the Greater Chicago Food Depository.
- American Red CrossminorPartnership for monthly blood drives to help patients in approximately 2,600 hospitals across the U.S.
- Skyrise ChicagominorWillis Tower hosts Skyrise Chicago, the world's tallest indoor stair climb (103 floors) each November in honor of Shirley Ryan Ability Lab.
Scale indicators9 records
Recent moves9 records
Expansion highlights4 records
Willis Tower competitors and assessment
Company assessmentDirect peers
- Empire State Realty Trust: Operates the Empire State Building, a New York trophy tower combining office leasing with the iconic 86th/102nd floor observation decks. Most structurally comparable peer given the office + observation deck mixed-use model and brand-driven tourism flywheel.
- 875 N Michigan Ave (formerly John Hancock Center): Chicago supertall observation deck and office/residential tower. Direct local competitor for Skydeck's tourist admission revenue and a peer in the Chicago trophy asset category.
Broad incumbents
- Boston Properties (BXP): Public REIT focused on trophy Class-A office assets in gateway U.S. cities. Comparable institutional-grade office operator serving Fortune 500 tenants in major CBDs.
- Vornado Realty Trust: Owns and operates premier office properties including the Penn District and Chicago's Merchandise Mart. Comparable institutional office landlord with portfolio scale that Willis Tower's owner/manager could benchmark against.
- Tishman Speyer: Global owner/operator of trophy office and mixed-use assets (e.g., Rockefeller Center). Comparable institutional landlord of iconic Class-A office towers and mixed-use destinations.
- The Durst Organization (One World Trade Center): Operates One World Trade Center and the One World Observatory. Comparable as a Class-A office supertall with an integrated observation experience in a major U.S. gateway city.
- Related Companies (30 Hudson Yards / Hudson Yards): Manages Hudson Yards, a trophy mixed-use Manhattan development combining Class-A office with retail, dining, and the Edge observation deck — directly comparable to Willis Tower's integrated office + retail + experience destination model.
Others
- JLL (Jones Lang LaSalle): Global commercial real estate services firm involved in leasing, valuation, and advisory for trophy office assets. Relevant as an ecosystem participant supporting office landlord operations rather than a direct competitor.
- CBRE: Largest global commercial real estate services and investment firm; adjacent comparator for office leasing brokerage, property management, and capital markets services relevant to a trophy office asset.
Regional players
- CIM Group: Owner of Chicago's former Tribune Tower redevelopment into luxury condos and retail — a peer trophy mixed-use asset transformation in the same Chicago market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Willis Tower social profiles
Digital presenceWillis Tower compliance and trust
Trust signalCompliance3 records
Willis Tower financial estimates
Financial estimateRevenue estimate
Valuation estimate
Willis Tower leadership team
Management profileNumber of profiles
Willis Tower subsidiaries and ownership
Company hierarchySubsidiaries5 records
Willis Tower funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Willis Tower M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Willis Tower
What does Willis Tower do?
Willis Tower is a 110-story Class-A commercial office building and mixed-use urban destination in Chicago's Loop. It generates revenue primarily by leasing flexible office space (one month to five-year terms) to companies ranging from solo founders to Fortune 100 enterprises, leasing retail and dining space through the five-level Catalog destination, operating the Skydeck observation attraction on the 103rd floor, and offering tenant-exclusive amenities such as the TONE Fitness Center, Tower House, Convene meeting spaces, and event venues including the Steel Room and 99th Floor.
Is Willis Tower a public or private company?
Willis Tower is a private company. It is classified as private equity controlled and is currently operating.
When was Willis Tower founded?
Willis Tower was founded in 1973. It employs 1 to 10 people.
Where is Willis Tower based?
Willis Tower is headquartered in Chicago, United States, in the North America region.
How does Willis Tower make money?
Five revenue lines are on record. Office Space Leasing is the primary driver. The others are retail Space Leasing, skydeck Observatory, TONE Fitness Center Membership and event Space Rental.
Who are Willis Tower's main competitors?
Direct peers on record are Empire State Realty Trust and 875 N Michigan Ave (formerly John Hancock Center). Broad incumbents are Boston Properties (BXP), Vornado Realty Trust, Tishman Speyer, The Durst Organization (One World Trade Center) and Related Companies (30 Hudson Yards / Hudson Yards). Others are JLL (Jones Lang LaSalle) and CBRE. CIM Group is listed as a regional player.
Does Willis Tower have an API?
No public API is recorded for Willis Tower.
What industry is Willis Tower in?
Willis Tower's product category is Commercial Real Estate. Its primary akta.pro industry code is THAJACAA, Observation Decks & Viewing Platforms. Its NAICS code is 531120 and its SIC code is 6512.