"We offered more money than Goldman Sachs & Co.'s Whitehall Fund," Younan says, "but we were told Friday that we didn't get the deal. We know they offered attractive terms, such as requiring no due diligence, fast closing and all cash."

Other bidders reportedly included Tishman Speyer, the John Buck Co. and Beitler Real Estate Corp., though none of the firms returned calls regarding the deal. A Shorenstein spokesman also would not confirm the deal, but did say a sale is close to happening. Goldman Sachs did not return calls for comment. Officials with locally based Golub Co., which reportedly would manage and lease the property, also did not return calls. New York-based Eastdil Secured, which usually does not comment on its transactions, handled the brokerage on behalf of Shorenstein.

The sale is still attractive, at roughly $350 per sf. The deal includes the 888,458-sf office portion of the John Hancock Center as well as 152,897 sf of retail space there. The building, the third tallest in Chicago, also has 700 condominiums, which were not included in the sale.