A joint venture that includes prominent architect Frank Gehry has signed a contract to acquire the landmark Inland Steel building.

The venture also includes investor Alfred D'Ancona, president of the Chicago firm that bears his name, and Harvey Camins, chief executive of Chicago real estate brokerage Camins Tomasz Kritt LLC.

D'Ancona confirmed that the venture, Freddy Steel LLC, has made a non-refundable deposit on the deal, which is expected to close in August. "It exemplifies the greatness of Chicago architecture," he said.

Built in 1957, the 232,450-square-foot structure at 30 W. Monroe St. is owned by St. Paul Travelers Cos.

D'Ancona declined to comment on the price, which sources said is less than $200 a square foot. That would put the price at roughly $40 million. The price is less than reported in April, when Gehry confirmed his interest in the 19-story icon.