Canary Wharf Developers Olympia & York are believed to have won the race to buy the Sears Tower headquarters building in Chicago.
Bids for the world’s tallest building — put on sale last October — are reported to have topped $1bn, with vendors Sears Roebuck & Co expecting $1.2bn for the property.
Peter Rosenthal of O&Y’s New York office could not confirm the purchase, but said that the company “have put in a bid”. Other bidders were JMB Realty Corporation with Trammell Crow, LaSalle Partners with Prudential Insurance Co of America, and Aldrich Eastman and Waltch Inc.
