Search
 

108 N. State To Start

CHICAGO-Development of the city block formerly known as Block 37 is expected to kick off Tuesday.

By Mark Ruda | Updated on November 14, 2005

CHICAGO-Mills Corp. has closed on its $12.3-million purchase of the former Block 37 site, about one-third the property’s most recent appraised value, clearing the way for a ground-breaking on the 108 N. State St. project next week. Also, the $336-million mixed-use project on the city block between Marshall Field’s flagship store and the Daley Center will have some changes in its design unveiled Tuesday.

The city bought the property back from a previous development team in 2002 for $32.5 million. Last year, the long undeveloped parcel in the middle of the Loop was appraised at $37 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.