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Venture Signs For Block 37 Office, Residential Rights

CHICAGO-Golub/BlackRock partnership buys rights from Mills to build 17-story office building and two residential towers at 108 N. State St.

By Robert Carr | Updated on November 01, 2006

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CHICAGO-A joint venture between Chicago-based Golub & Co. and the New York-based BlackRock investment firm has closed on the purchase of land and air rights at 108 N. State St., under development by the troubled Mills Corp., to build a 17-story office building, a 416-unit apartment building and a 381-unit condominium tower. Michael Newman, Golub’s president and chief executive officer, would not divulge the purchase price, but said the complex the company plans to build will cost more than $450 million. Golub will build the residential units on top of the Mills Corp.’s planned retail building on the site, also known as Block 37.

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