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Sterling Bay bags Chicago site with $105M bid

Sterling Bay won an 18-acre site in Chicago, near Goose Island, after putting in a $104.7 million bid for the property, the Chicago Tribune reported, citing a release from the city.

The deal for the Department of Fleet and Facility Management site is expected to close later in 2017, after which the developer will own nearly 60 acres of land in the area, according to the July 31 report.

The publication noted that the company is expected to pour in "billions of dollars" to deliver a mix of residential, office and retail offerings on the sites.