CHICAGO, July 16 (UPI) -- Chicago TV station WBBM says it intends to sell its historic Streeterville studios, the site of the nation's first televised presidential debate in 1960.
The Chicago Tribune said development firm Golub & Co., wants to raze the building to make way for a residential development after the CBS-owned television station moves to a new facility in late 2007.
Built in 1924 as a horse stable, the three-story structure's physical condition has deteriorated in recent years despite efforts to maintain it, the Tribune said.
The sale, expected to close within two weeks, is anticipated to be in the $20 million range.
The first U.S. presidential debate -- between John F. Kennedy and Richard Nixon -- was televised from the Chicago studio in 1960.
