CLEVELAND - Representatives from K&D of Willoughby announced the purchase of Terminal Tower from Forest City Reality Trust Inc., Thursday, September 8.
There was buzz surrounding the company buying the historic landmark back in May.
Built in 1930,Terminal Tower was once one of the tallest buildings in the world.
The Tower boasts an impressive observation deck, advanced eternal lighting, and a Twitter account with more than 30,000 followers.
According to a press release, K&D has plans to renovate the 52-story tower into nearly 300 luxury apartments.
The apartments will occupy 11 floors.
The remaining floors will still be available for commercial use.
The renovations won't begin until the conclusion of all leases in mid-2018.