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Business & Tech

Private Equity Firm to Move from Northbrook to Chicago

Sterling Partners cites resources and talent in Chicago for the relocation.

A private equity firm, which recently bought a stake in a digital media arts college, is pulling up stakes and moving downtown.

The Chicago Tribune reports that will relocate to 401 N. Michigan Ave., bringing with it more than 50 professionals.

The firm cites factors as "resources and talent" in Chicago, including the University of Chicago, which runs the Gleacher Center next door, for the relocation, according to the Chicago Tribune.

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The move is expected to take place by the end of the year, according to the Chicago Tribune.

Sterling received no tax breaks to relocate, the Chicago Tribune reports.

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The firm has been in operation since 1983, but it is uncertain if it has been at its Northbrook Home at 1033 Skokie Blvd. for that long. The firm also has offices in Baltimore and Miami.

reported earlier this month that Sterling staked money in the expansion of Flashpoint Tribeca Media Arts Academy, founded by Howard Tullman in 2007. Terms of that agreement were not disclosed.

The school is based iat 28 North Clark St. in Chicago. 

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