Name: McDonald’s HQ sells for more than $412 million, a record for Chicago’s Fulton Market district
Brand: chicagotribune.com
SKU: chicagotribune-com-133
Availability: OnlineOnly

critic

McDonald’s HQ sells for more than $412 million, a record for Chicago’s Fulton Market district

preview

AdvertisementBy Chicago TribuneOct 29, 2020 at 1:27 pmMcDonald’s headquarters building has sold for more than $412 million, in the highest-price property sale ever in Chicago’s Fulton Market district.The sale of the building at 110 N. Carpenter St. was completed Thursday, seller Sterling Bay said.AdvertisementThe Chicago firm developed the 575,000-square-foot building on the , where the fast-food giant from west suburban Oak Brook in June 2018.The price, $412.5 million, is a record for the just west of the Kennedy Expressway.AdvertisementIt is the highest sale price for any property in Chicago this year, a year that has seen a slowdown in real estate deals because of the coronavirus pandemic.“Completing the sale of 110 N. Carpenter in the midst of an uncertain economic market is a testament to the city of Chicago’s ability to attract outside investment and secure important capital for its future,” Sterling Bay CEO said Andy Gloor said in a statement.Sterling Bay’s statement did not identify the buyer, which the Tribune . The Pittsburgh-area firm is affiliated with the high-net-worth Snyder family, heirs to late-1800s steel industry baron William Penn Snyder Sr.Although it comes during a faltering economy because of COVID-19, it’s a relatively low-risk investment because McDonald’s leases 490,000 square feet in the nine-story building until 2033 for its corporate offices, Hamburger University training facility and . and investment partner J.P. Morgan Asset Management bought the site along Randolph and Carpenter streets from Winfrey for $30.5 million in 2014. They are believed to have spent about $250 million redeveloping the property, which is 97% leased.The previous highest price for a Fulton Market building was the $257 million sale of 1KFulton, which serves as Google’s Midwest headquarters, in 2016. Sterling Bay also was the seller in that deal, after gutting and adding on to the former Fulton Market Cold Storage building.McDonald’s headquarters was .Sterling Bay was represented in the sale by JLL Capital Markets brokers Jaime Fink, Jeff Bramson, Bruce Miller, Patrick Shields and Sam DiFrancesca.AdvertisementMcDonald’s headquarters is the largest office property sale in Chicago since 2018, when Sterling Bay paid $510 million for 600 West Chicago and $680 million for the two-tower Prudential Plaza complex.Twitter Advertisement

AdvertisementBy Chicago TribuneOct 29, 2020 at 1:27 pmMcDonald’s headquarters building has sold for more than $412 million, in the highest-price property sale ever in Chicago’s Fulton Market district.The sale of the building at 110 N. Carpenter St. was completed Thursday, seller Sterling Bay said.AdvertisementThe Chicago firm developed the 575,000-square-foot building on the , where the fast-food giant from west suburban Oak Brook in June 2018.The price, $412.5 million, is a record for the just west of the Kennedy Expressway.AdvertisementIt is the highest sale price for any property in...

public

Ryan Ori

The Chicago Tribune is a daily newspaper based in Chicago, Illinois, United States, owned by Tribune Publishing. Founded in 1847, and formerly self-styled as the "World's Greatest Newspaper" (a slogan for which WGN radio and television are named), it remains the most-read daily newspaper of the Chicago metropolitan area and the Great Lakes region. It had the 6th highest circulation for American newspapers in 2017.

https://en.wikipedia.org/wiki/Chicago_Tribune

chicagotribune.com

Credible

Speculation

Anecdotal Evidence

Generalization

Stacking the Deck

Appeal to Authority

Straw Man

Slippery Slope

Emotional Appeal

Red Herring

False Dilemma

Illogical

Moral Equivalency

Ad Hominem

Correlation w/o Causation

Semantics

Begging the Question

Faulty Analogy

Non Sequitur

Bandwagon

Dogmatism

Failing Occam's Razor

Biased

Pure Opinion

Hit Piece

Racial Bias

National Bias

Religious Bias

Financial Incentive

Political Agenda

Gender Bias

Misused Image/Video

Study Misinterpreted

Mistake

Misused Term

Science Misrepresented

Factual Error

Satire

Surface Level

Lack of Reliable Sources

Sensational

Not Credible

Investigative

Balanced

Well Sourced

Great Context

sports

entertainment

U.S.

international

business

technology

science

culture

politics

media

health

McDonald’s HQ sells for more than $412 million, a record for Chicago’s Fulton Market district

No article scores yet.

CRITIC REVIEWS

PUBLIC REVIEWS