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Groupon HQ Getting a Makeover

Sterling Bay wants to transform how neighborhood residents and passersby interact with the riverfront building.

chi-600-West-Chicago-river-with-boat-2 (2) 600 West Chicago was once a catalog warehouse for Montgomery Ward.

CHICAGO—Sterling Bay has made itself into one of the city’s most important developers. It will soon open the new global headquarters for McDonald’s in the West Loop, one of several company projects transforming the office landscape and helping create new submarkets. And its latest move, the $510 million acquisition of the mammoth riverfront headquarters of Groupon at 600 W. Chicago Ave., will also bring changes to the city.

“This is the type of asset we can see ourselves holding long term,” Keating Crown, a Sterling Bay principal, tells GlobeSt.com. The large floor plates of the approximately 1.65-million-square-foot former warehouse are highly sought after by tenants that want to locate all of their employees on only one or two floors. The property is already 94% leased. In addition to Groupon, tenants include Echo Global Logistics, Uptake Technologies, Jump Trading, Big Ten Network and venture capital firm Lightbank.

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Brian J. Rogal

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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