Boston REIT poised to buy 180 N. LaSalle

(Crain’s) — A Boston real estate investment trust that is an active investor in Chicago has a tentative agreement to buy 180 N. LaSalle St. at a steep discount from a $116.4-million deal that collapsed amid last year’s financial crisis.

The buyer was identified as Winthrop Realty Trust in a letter sent earlier this month by current owner Prime Group Realty Trust to tenants in the 38-story North Loop tower, according to sources who received the letter.

Michael Ashner, chairman and CEO of Winthrop, declined to comment. The deal is expected to close next month.

Winthrop would pay less than $90 million, or $116 per square foot, for the 770,191-square-foot building, sources familiar with the transaction say.

That would be nearly 23% less than California investor Zaya Younan finally agreed to pay in December 2008 — after several negotiations — before his deal fell apart in February because he couldn’t obtain financing.