Marshall Field

Macy's puts State Street flagship up for sale — at least the top half of it

Macy's puts State Street flagship up for sale — at least the top half of it

More than a year after first dropping hints about cashing in on its State Street store, Macy's is making it official: It's ready to sell.

The Loop flagship is formally for sale — or, to be more precise, the top half of the building is available to potential buyers or joint venture partners. The deal could generate as much as $130 million for Macy's at a time when it is slashing costs and closing stores throughout the country.

Macy's spokeswoman Andrea Schwartz confirmed in an email that the company plans to sell the eighth through the 14th floors of the building, encompassing 700,000 square feet. She did not say how much the company expects the real estate to fetch in a...

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