A Michigan Avenue office tower whose plaza will include Apple's new flagship store is about to get a new owner in a $370 million deal.
That comes as the 50-story Leo Burnett Building on Wacker Drive is set to go up for sale. Valued at an estimated $530 million, it will be the most valuable office tower to hit the market in downtown Chicago so far this year.
Chicago-based Walton Street Capital has agreed to buy the 35-story office building, 401 North Michigan, for about $370 million, according to sources.
If the deal is completed as expected, the sale price for the former Equitable Building would be more than triple the $120 million that Chicago's Zeller Realty Group paid...