Jay MacKeen Of Jack Carter Automotive Group Acquires Development Site From Andy Gloor For $15.5M

The transaction involves a development site comprising two parcels located at 1642 North Besly Court and 1400 West North Avenue in the Chicago market. The seller, Sterling Bay, has sold the properties for a total price of $15,500,000, which reflects a strategic decision to reduce its North Side holdings amid the ongoing challenges surrounding the Lincoln Yards megaproject.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $15,500,000
• Buyer: Jay MacKeen - Jack Carter Automotive Group
• Seller: Andy Gloor - Sterling Bay
• Sale Date: 01/05/2026
• Address: 1642 North Besly Court & 1400 West North Avenue
• Market: Chicago

This sale marks a continuation of Sterling Bay's retreat from the Lincoln Yards project, following previous property disposals, including a notable $34 million transaction with Novak Construction. This shift indicates a significant change in the developer's strategy, moving away from prior plans for office, medical, and mixed-use developments in the area.