The world's biggest restaurant chain is in advanced negotiations with Chicago-based developer Sterling Bay to move its headquarters to a building on Randolph Street, Crain's Chicago Business reported, citing people familiar with the deal.

Sterling Bay bought Oprah Winfrey's former Harpo Studios campus for more than $30 million in 2014.

"We're not going to speculate and when we have information to share, it will be with our employees first," McDonald's said in an e-mail.

Sterling Bay did not immediately respond to a request for comment outside regular business hours.