McDonald's Corp. is nearing a deal to shift its headquarters to the former Harpo Studios campus in Chicago from Oak Brook, Illinois, Crain's Chicago Business reported.

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.