Sterling Bay to sell McDonald’s HQ building for about $420 million

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McDonalds headquarters
McDonald's headquarters at 110 N. Carpenter (Google Street View)

Developer Sterling Bay has a deal to sell McDonald’s headquarters building for about $420 million, the Chicago Tribune reports. If the deal goes through, it would be the highest-priced property sale of the year and a record price for the booming Fulton Market district.

Pittsburgh area investor Normandy Properties, has a preliminary deal to buy the 575,000-sq. ft. office building at 110 N. Carpenter St., the published report says, quoting people familiar with the deal,

“The sale has not been finalized, and it could still fall apart,” the Tribune reported. “An exact price could not be determined, but it is believed to be about $420 million.”

The sale also would shatter the record for Fulton Market, which in recent years has gone from a meatpacking and food distribution hub to the busiest construction zone in the city. The area just west of the Kennedy Expressway is home to large corporate offices, hotels, residential towers, restaurants and stores.

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