The Irvine Co. is close to an agreement to buy the 49-story Hyatt Center in Chicago for about $625 million from the Pritzkers, the storied family whose business empire includes a majority stake in the Hyatt Hotels Corp. chain, according to people familiar with the deal.

The sale of the curved tower at 71 S. Wacker Drive in Chicago, which contains about 1.5 million square feet of office space, could close as early as Friday, people said. The deal could still collapse, but if completed, the building would be one of the largest Windy City properties to trade this year. Get the full story »