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| Photo by CoStar Group |
As Sterling Bay vies to bring Amazon's second headquarters to a new campus it's planning for Chicago's North Side, it's closing in on a deal to buy a more established office hub downtown. The developer is finalizing an agreement to buy the former Montgomery Ward catalog building at 600 W. Chicago Ave. from Chicago-based Equity Commonwealth, according to sources close to negotiations. The deal has not been completed, but Sterling Bay is believed to have edged out New York-based investor Blackstone Group to buy the 1.65 million-square-foot building along the Chicago River for more than $500 million, a source said. Read More....
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