Sam Zell, owner of Tribune Co, publisher of the Chicago Tribune and the Los Angeles Times, attends a business conference in Tel Aviv December 14, 2008. A revival in the U.S. real estate market, key to a recovery in the world economy, should begin by next spring, property mogul Zell told an Israeli business conference on Sunday. REUTERS/Gil Cohen Magen (ISRAEL) 

Sam Zell, founder and chairman at Equity Group Investments, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 17, 2017. REUTERS/Richard Brian 

Sam Zell, founder and chairman at Equity Group Investments, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 17, 2017. REUTERS/Richard Brian 

Sam Zell, founder and chairman at Equity Group Investments, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 17, 2017. REUTERS/Richard Brian 

Sam Zell, founder and chairman at Equity Group Investments, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 17, 2017. REUTERS/Richard Brian 

Sam Zell, Chairman of Equity Group Investments, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. REUTERS/Lucy Nicholson 

Sam Zell, Chairman of Equity Group Investments, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. REUTERS/Lucy Nicholson 

Sam Zell, Chairman of Equity Group Investments, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. REUTERS/Lucy Nicholson 

Sam Zell, Chairman of Equity Group Investments, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. REUTERS/Lucy Nicholson 

Sam Zell, chairman of Equity Group Investments, appears on Fox Business Network's show "Opening Bell with Maria Bartiromo" in New York June 10, 2014. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) 

Sam Zell, chairman of Equity Group Investments, appears on Fox Business Network's show "Opening Bell with Maria Bartiromo" in New York June 10, 2014. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) 

Sam Zell, chairman of Equity Group Investments, appears on Fox Business Network's show "Opening Bell with Maria Bartiromo" in New York June 10, 2014. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) 

Sam Zell, chairman of Equity Group Investments, appears on Fox Business Network's show "Opening Bell with Maria Bartiromo" in New York June 10, 2014. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) 

Sam Zell, chairman of Equity Group Investments, appears on Fox Business Network's show "Opening Bell with Maria Bartiromo" in New York June 10, 2014. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) 

Sam Zell, chairman of Equity Group Investments, appears on Fox Business Network's show "Opening Bell with Maria Bartiromo" in New York June 10, 2014. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) 

Barry Sternlicht (L), chairman and CEO of Starwood Capital Group leans over to speak with Sam Zell, chairman of Equity Group Investments, during a panel session "Global Opportunities in Commercial Real Estate" at the Milken Institute Global Conference in Beverly Hills, California April 29, 2013. REUTERS/Fred Prouser (UNITED STATES - Tags: BUSINESS) 

Sam Zell, chairman of Equity Group Investments, speaks during a panel session "Global Opportunities in Commercial Real Estate" at the Milken Institute Global Conference in Beverly Hills, California April 29, 2013. REUTERS/Fred Prouser (UNITED STATES - Tags: BUSINESS) 

Sam Zell, chairman of Equity Group Investments, speaks during a panel session "Global Opportunities in Commercial Real Estate" at the Milken Institute Global Conference in Beverly Hills, California April 29, 2013. REUTERS/Fred Prouser (UNITED STATES - Tags: BUSINESS) 

American businessman Sam Zell gives an interview on the floor at the New York Stock Exchange, April 10, 2013. REUTERS/Brendan McDermid (UNITED STATESBUSINESS - Tags: BUSINESS PROFILE) 

American business man Sam Zell reacts during an interview on the floor at the New York Stock Exchange, April 10, 2013. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) 

Sam Zell, chairman of Equity Group Investments, reacts during "The Changing Winds in the Real Estate Market" panel session at the Milken Institute Global Conference in Beverly Hills, California April 30, 2012. REUTERS/Fred Prouser (UNITED STATES - Tags: BUSINESS) 

Sam Zell, chairman of Equity Group Investments, speaks during "The Changing Winds in the Real Estate Market" panel session at the Milken Institute Global Conference in Beverly Hills, California April 30, 2012. REUTERS/Fred Prouser (UNITED STATES - Tags: BUSINESS) 

Barry Sternlicht (L), chairman and CEO of Starwood Capital Group, and Sam Zell, chairman of Equity Group Investments, listen during the "The Changing Winds in the Real Estate Market" panel session at the Milken Institute Global Conference in Beverly Hills, California April 30, 2012. REUTERS/Fred Prouser (UNITED STATES - Tags: BUSINESS) 

Sam Zell, chairman of Equity Group Investments, reads a copy of the USA Today newspaper prior to the start of "The Changing Winds in the Real Estate Market" panel session at the Milken Institute Global Conference in Beverly Hills, California April 30, 2012. REUTERS/Fred Prouser (UNITED STATES - Tags: BUSINESS) 

Gary Garrabrant, chief executive officer and co-founder of Equity International with Sam Zell, speaks at the Reuters Investment Outlook Summit in New York, December 8, 2010. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) 

Gary Garrabrant, chief executive officer and co-founder of Equity International with Sam Zell, speaks at the Reuters Investment Outlook Summit in New York, December 8, 2010. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) 

Gary Garrabrant, chief executive officer and co-founder of Equity International with Sam Zell, speaks at the Reuters Investment Outlook Summit in New York, December 8, 2010. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) 

Mitch (L) and Sam Zell of Falls Church, VA, play with a neighbor's Newfoundland named "Peanut" in deep snow near their home February 8, 2010. The Washington D.C. region is digging out from a major snowstorm that hit last weekend and brought the nation's capital to a standstill.
REUTERS/Kevin Lamarque (UNITED STATES - Tags: ENVIRONMENT) 

Sam Zell, chairman and CEO, Tribune Company, speaks at the 2009 Milken Institute Global Conference in Beverly Hills,California in this April 27, 2009 file photograph. Zell is resigning as chief executive of Tribune Co, December 2, 2009, after two years at the helm of the bankrupt media company, but will remain chairman of Tribune. REUTERS/Fred Prouser/Files (UNITED STATES MEDIA BUSINESS) 

Sam Zell, Chairman and President, Equity Group Investments LLC and Chairman and CEO, Tribune Company, speaks during a panel discussion on "Commercial Real Estate: Identifying the Opportunities" at the 2009 Milken Institute Global Conference in Beverly Hills,California April 27, 2009. REUTERS/Fred Prouser (UNITED STATES BUSINESS MEDIA) 

Sam Zell, Chairman and President, Equity Group Investments LLC and Chairman and CEO, Tribune Company, speaks during a panel discussion on "Commercial Real Estate: Identifying the Opportunities" at the 2009 Milken Institute Global Conference in Beverly Hills,California April 27, 2009. REUTERS/Fred Prouser (UNITED STATES BUSINESS MEDIA) 

Sam Zell, Chairman and President, Equity Group Investments LLC and Chairman and CEO, Tribune Company, speaks during a panel discussion on "Commercial Real Estate: Identifying the Opportunities" at the 2009 Milken Institute Global Conference in Beverly Hills,California April 27, 2009. REUTERS/Fred Prouser (UNITED STATES BUSINESS MEDIA) 

Sam Zell, owner of Tribune Co, publisher of the Chicago Tribune and the Los Angeles Times, attends a business conference in Tel Aviv December 14, 2008. A revival in the U.S. real estate market, key to a recovery in the world economy, should begin by next spring, property mogul Zell told an Israeli business conference on Sunday.
REUTERS/Gil Cohen Magen (ISRAEL) 

Sam Zell, owner of Tribune Co, publisher of the Chicago Tribune and the Los Angeles Times, attends a business conference in Tel Aviv December 14, 2008. A revival in the U.S. real estate market, key to a recovery in the world economy, should begin by next spring, property mogul Zell told an Israeli business conference on Sunday.
REUTERS/Gil Cohen Magen (ISRAEL) 

Chicago Cubs team owner Sam Zell (R) smiles before the start of his team's game against the Los Angeles Dodgers during Game 1 of their MLB National League Divisional Series playoff baseball game in Chicago, October 1, 2008. REUTERS/John Gress (UNITED STATES) 

Sam Zell (R), Chairman and President, Equity Group Investments LLC and Chairman and CEO, Tribune Company speaks AS Michael Von Konynenburg (L), President, Eastdil Secured listens during the Real Estate: Where is the Bottom? panel at the 2008 Milken Institute Global Conference in Beverly Hills, California April 28, 2008. REUTERS/Phil McCarten (UNITED STATES) 

Sam Zell, Chairman and President, Equity Group Investments LLC and Chairman and CEO, Tribune Company speaks during the Real Estate: Where is the Bottom? panel at the 2008 Milken Institute Global Conference in Beverly Hills, California April 28, 2008. REUTERS/Phil McCarten (UNITED STATES) 

Sam Zell, Chairman and President, Equity Group Investments LLC and Chairman and CEO, Tribune Company speaks during the Real Estate: Where is the Bottom? panel at the 2008 Milken Institute Global Conference in Beverly Hills, California April 28, 2008. REUTERS/Phil McCarten (UNITED STATES) 

A woman walks past Wrigley Field in Chicago April 2, 2007. Tribune Co. said on Monday it agreed to Chicago real estate magnate Sam Zell's bid to take the newspaper publisher and broadcaster private, and it plans to sell the Chicago Cubs after the 2007 baseball season. REUTERS/John Gress (UNITED STATES) 

A cyclist rides past Wrigley Field in Chicago April 2, 2007. Tribune Co. said on Monday it agreed to Chicago real estate magnate Sam Zell's bid to take the newspaper publisher and broadcaster private, and it plans to sell the Chicago Cubs after the 2007 baseball season. REUTERS/John Gress (UNITED STATES) 

A view of Wrigley Field in Chicago April 2, 2007. Tribune Co. said on Monday it agreed to Chicago real estate magnate Sam Zell's bid to take the newspaper publisher and broadcaster private, and it plans to sell the Chicago Cubs after the 2007 baseball season. REUTERS/John Gress (UNITED STATES) 

A man stands between a "Los Angeles Times" newspaper vending machine and an entrance to the Times building in downtown Los Angeles April 2, 2007. Tribune Co., publisher of the "Los Angeles Times", announced Monday that it agreed to Chicago real estate magnate Sam Zell's bid of $8.2 billion to take the newspaper publisher and broadcaster private. REUTERS/Fred Prouser (UNITED STATES) 

A man enters the Tribune Tower in Chicago, April 2, 2007. Tribune Co. said on Monday it agreed to Chicago real estate magnate Sam Zell's bid to take the newspaper publisher and broadcaster private, and it plans to sell the Chicago Cubs after the 2007 baseball season. REUTERS/John Gress (UNITED STATES) 

The Tribune Tower in Chicago, April 2, 2007. Tribune Co. said on Monday it agreed to a bid from Chicago real estate magnate Sam Zell to take it private for $34 a share in a deal structured as an employee stock ownership plan. Tribune also said it planned to sell the Chicago Cubs. REUTERS/John Gress (UNITED STATES) 

The Tribune Tower in Chicago, April 2, 2007. Tribune Co. said on Monday it agreed to a bid from Chicago real estate magnate Sam Zell to take it private for $34 a share in a deal structured as an employee stock ownership plan. Tribune also said it planned to sell the Chicago Cubs. REUTERS/John Gress (UNITED STATES) 

A man leaves Tribune Tower in Chicago April 2, 2007. Tribune Co. said on Monday it agreed to a bid from Chicago real estate magnate Sam Zell to take it private for $34 a share in a deal structured as an employee stock ownership plan. Tribune also said it planned to sell the Chicago Cubs. REUTERS/John Gress (UNITED STATES) 

Jason Shaw takes a photo of Wrigley Field in Chicago April 2, 2007. Tribune Co. said on Monday it agreed to Chicago real estate magnate Sam Zell's bid to take the newspaper publisher and broadcaster private, and it plans to sell the Chicago Cubs after the 2007 baseball season. REUTERS/John Gress (UNITED STATES) 

The Tribune Tower is pictured in Chicago, April 2, 2007. Tribune Co. said on Monday it agreed to Chicago real estate magnate Sam Zell's bid to take the newspaper publisher and broadcaster private, and it plans to sell the Chicago Cubs after the 2007 baseball season. REUTERS/John Gress (UNITED STATES) 

A view of the "Los Angeles Times" newspaper building in downtown Los Angeles April 2, 2007. Tribune Co., publisher of the "Los Angeles Times", announced Monday that it agreed to Chicago real estate magnate Sam Zell's bid of $8.2 billion to take the newspaper publisher and broadcaster private. REUTERS/Fred Prouser (UNITED STATES) 

The Tribune Tower in Chicago, April 2, 2007. Tribune Co. said on Monday it agreed to a bid from Chicago real estate magnate Sam Zell to take it private for $34 a share in a deal structured as an employee stock ownership plan. Tribune also said it planned to sell the Chicago Cubs. REUTERS/John Gress (UNITED STATES) 

Sam Zell, chairman of Equity Group Investments, LLC, speaks at the Wharton Economic Summit in New York February 1, 2006. As part of the Wharton business school event, senior faculty, alumni and industry leaders tackle major topics that impact businesses around the world. REUTERS/Chip East 

Sam Zell, chairman of Equity Group Investments, LLC, speaks at the Wharton Economic Summit in New York February 1, 2006. As part of the Wharton business school event, senior faculty, alumni and industry leaders tackle major topics that impact businesses around the world. REUTERS/Chip East 

Sam Zell, chairman of Equity Group Investments, LLC, speaks at the Wharton Economic Summit in New York February 1, 2006. As part of the Wharton business school event, senior faculty, alumni and industry leaders tackle major topics that impact businesses around the world. 

Sam Zell (L-R), William Mack, Peter Linneman and Mort Zuckerman speak at the Wharton Economic Summit in New York February 1, 2006. As part of the Wharton business school event, senior faculty, alumni and industry leaders tackle major topics that impact businesses around the world. REUTERS/Chip East 

Sam Zell, Chairman of of Equity Group Investments L.L.C and Chairman of the Board of Equity International Properties Ltd., speaks to reporters at the Reuters Real Estate Summit at the Reuters Building in New York June 30, 2005. REUTERS/Mike Segar MS/TZ 

Sam Zell, Chairman of of Equity Group Investments L.L.C and Chairman of the Board of Equity International Properties Ltd., speaks to reporters at the Reuters Real Estate Summit at the Reuters Building in New York June 30, 2005. 

Sam Zell, Chairman of of Equity Group Investments L.L.C and Chairman of the Board of Equity International Properties Ltd., speaks to reporters at the Reuters Real Estate Summit at the Reuters Building in New York June 30, 2005. REUTERS/Mike Segar MS/TZ