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CHICAGO-Chicago Real Estate Daily reports that Sterling Bay Cos. acquired the two-story, 56,000-square-foot building that once housed First Chicago Bank & Trust, among other tenants. The local buyer paid $4.7 million for the building, which is where Sterling Bay has its offices.

The article notes that the two-story structure at 1040 W. Randolph St. was financed with a $5.3 million loan from Schaumburg Bank & Trust. Sterling Bay currently occupies approximately 15,000 square feet in the building. The company is also talking with another tenant in the building, Venture One, about renewal and possible expansion to 25,000 square feet.

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