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Key Points
The 18-story Railway Exchange Building at 224 South Michigan Avenue, once home to architect Daniel Burnham, is under contract to sell to a venture led by local businessman Marc Calabria.
This is Calabria's second major downtown purchase in the past month, following the acquisition of the William Le Baron Jenney–designed building at 401 South State Street.
The Railway Exchange Building was previously owned by the University of Notre Dame, which handed the property back to its lender in January through a deed in lieu of foreclosure.