McDonald's Headquarters building in Chicago has sold for more than 412 million dollars, and the sale was completed on Thursday.
This is the largest office property sale in Chicago since 2018, Chicago Tribune reported on Thursday.
Seller Sterling Bay and investment partner J.P. Morgan Asset Management bought the site from Oprah Winfrey's Harpo Studios for 30.5 million dollars in 2014, and then have spent about 250 million dollars to redevelop it into a 575,000-square-foot building. McDonald's, one of the world's largest fast-food giant, moved its headquarters into the building in June 2018.
As McDonald has leased 490,000 square feet in the ninth story of building until 2033 for its corporate offices, and 97 percent of the property has been leased, the deal is a relatively low-risk investment, the local newspaper said. Enditem