The “John Hancock Center” has been sold for $300 million dollars.

You will notice that “John Hancock Center” is in quotations — that’s because back in February, the famed insurance company requested all logos, signage, and names referencing the insurance company be removed.

Technically, the building is now known by it’s address (875 N. Michigan Ave.) — and as of today, has it’s naming rights on the market.  The question is…will the buyer get their money’s worth?

It’s been almost 10 years since Willis Group Holdings negotiated a name change as part of their lease deal with the Sears Tower — but I’ll be dammed in anyone in Chicago actually refers to it as the Willis Tower.  The ball park on the South Side has had three names in its lifetime (one borrowed, and two corporate partners).  Yet, fans will call it “Comiskey,” “Sox Park,” and even “The Cell” — despite the fact that nickname was for the previous sponsor.

So, buy away companies — buy away.  But if people continue to call things by what they know, do the naming rights you purchase even matter?  — [eric]