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.