Chicago's Sears Tower will be renamed Willis Tower after London-based Willis Group Holdings. The insurance broker announced the name change and other details of its agreement with the building's owners Thursday.
Willis is moving five offices and nearly 500 employees into the 110-story building. The move is expected to be completed by late summer.
Willis will occupy more than 140,000 square feet at $14.50 a square foot. The company says it's not paying anything extra for the naming rights.
The 1,451-foot skyscraper is owned by a real estate investment group formed in 2004 to buy the tower.