CHICAGO-Sterling Bay Cos. of Chicago is selling the West Adams Street office tower it bought five years ago from Sam Zell. The Shidler Group, a real estate investment company based in Honolulu, has agreed to purchase the 12-story building at 300 W. Adams St. for about $51 million, or approximately $200 per square foot.
Sterling Bay bought the 252,847-square-foot property in 2007 for about $23 million. The building is currently 93% occupied. Sterling Bay hired Michael Vesper of CBRE Inc. to handle the sale. For the full story, go to Crain's Chicago Business .
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