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Property & Building to Buy 439,434-SF Facility for $187M

CHICAGO-Property & Building Corp., an affiliate of IDB Group, has agreed to purchase the 17-story office tower at Block 37 in Chicago for $187 million.

By GlobeSt News Hub | Updated on July 18, 2011

CHICAGO-Property & Building Corp., an affiliate of IDB Group, has agreed to purchase the 17-story office tower at Block 37 in Chicago for $187 million. The Israeli firm, which recently purchased the new Barneys New York shop in the Gold Coast, will pay nearly $426 per square foot for the 439,434-square-foot facility.

The 22 W. Washington St. building currently house Morningstar Inc.’s headquarters. Property & Building has already delivered $7.5 million in trust and would give the rest when the deal gets completed. For the full story, go to Crain’s Chicago Business .

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