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CHICAGO-The proverbial gavel will come down twice for 2 S. Halsted St. Before selling the 86,000-sf vintage office building, Inland Real Estate Auctions Inc. will seek bids from potential tenants willing to lease the entire building, which has been used by MB Financial Bank as its long-time headquarters location.

After reviewing bids from potential tenants, due Sept. 14, it’s decision time for the seller, Chicago-based Nebel Inc., as well as would-be purchasers. Will the foundation sign the best lease deal, keep the property, or pass the lease to a new owner? As for buyers, are they looking to take over a fully-leased building, use it themselves, or redevelop the 93-year-old West Loop building a block south of the Skybridge development?

“Because the property has such a wide array of use options, it is difficult to name its value,” explains Frank Diliberto, president and chief executive officer of the Oak Brook-based auction company. “The auction will define value through competitive bidding by buyers or tenants with a variety of ideas for the property.”

With a 99-year lease expiring this year, MB Financial is moving across the street to 800 W. Madison St.

Requirements for tenants include a minimum 10-year deal with extension options. For bidders looking to buy the property, closing must happen by the end of the year.

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