Tribune Co., the newspaper company that filed for bankruptcy in December, is looking for options for two buildings other than a sale because it doesn’t expect to find buyers.

Falling real estate values and tighter lending restrictions hurt the publisher’s plan to divest the Tribune Tower in Chicago and Times Mirror Square, home of its Los Angeles Times newspaper, said Gary Weitman, a company spokesman. A sale is still an option, he said, denying a Crain’s Chicago Business report that Tribune scrapped plans to put the Chicago building up for sale.

“Given the downturn in the real estate market, it’s less likely that we’ll sell the properties but we are still looking at all the options to maximize the value of both properties,” Weitman said.

Tribune is working with real estate firms to secure tenants and determine other uses for the buildings, Weitman said.

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