Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Chicago & Midwest  + North Side  + Industrial  | 

Sterling Bay Co-Founder Goodman Snags Property Near Lincoln Yards

A joint venture of Scott Goodman’s Farpoint Development and Langdon Partners acquired property spanning 122,000 square feet at 1854 North Besly Court on Chicago’s North Side, reported Crain’s. The joint venture purchased the property from a Sterling Bay entity that originally acquired the building in 2014.

The brick buildings with a giant billboard have been used for storage and warehousing for years. The site overlooks the Kennedy Expressway, and it is the first property Sterling Bay has sold to Goodman. JLL brokered the sale to Farpoint.

Goodman co-founded Sterling Bay in 1987 and left in 2016 to launch Farpoint. Meanwhile, his former partner, Sterling Bay CEO Andy Gloor, has assembled properties along the Chicago River for Lincoln Yards, a 53-acre mixed-use campus megaproject. The sale comes as Sterling Bay struggles with financial challenges at Lincoln Yards, and the developer recently proposed additional apartments near the Lincoln Yards site.


Inside The Story

Sterling BayFarpoint Development

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

New call-to-action
New call-to-action