After news broke out last week of an agreement to buy Google’s Midwest headquarters, American Realty Advisors officially completed its acquisition of the 1k Fulton office building in Chicago’s Fulton Market neighborhood.
The firm purchased the 531,194-square-foot building located at 1000 W. Fulton from developer Sterling Bay for $257 million–$48 million short of the $305 million price that was initially reported June 29.
Sterling Bay originally bought the building in 2012 for just $12 million and converted it from the former Fulton Market Cold Storage warehouse to modern offices. Crain’s reported last week that 1k Fulton would have the third highest per-square-foot price in Chicago history if it sold at $305 million for $574 per square foot.
