**Vornado Considers Selling Chicago’s Iconic Merchandise Mart**
Vornado Realty Trust may soon look to sell its landmark Chicago property, the Merchandise Mart, often known simply as The Mart.
In a recent second-quarter earnings call, Vornado Chairman and CEO Steven Roth indicated that the building, along with a property in San Francisco, could potentially hit the market. Roth stated, “These two assets may be on the for-sale list for the right deal at the right time.”
The Mart is a colossal 3.7 million-square-foot structure located at 222 W Merchandise Mart Plaza. It stretches across two city blocks and stands 25 stories tall. In 2023, the property underwent significant renovations that included new and updated amenities, reimagined circulation and public areas, improved workspace and gathering spots, and revamped designs for the South Lobby and River Park.
Post-renovation, the building has attracted new tenants and witnessed expansions. Geico leased nearly 19,000 square feet within the property, and medical supply company Medline Industries tripled its office footprint on the 12th floor.
The potential sale marks a significant move by Vornado and signals strategic realignment in key markets including Chicago.
