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CIM Affirms Purchase of Block 37 Retail

CHICAGO-The Los Angeles-based firm said it can fill the remaining vacant 70% of the five-story mall, a controversial property that was last lost by Freed & Associates in a foreclosure.

By Robert Carr | Updated on April 09, 2012

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CHICAGO-CIM Group said today that it has closed its purchase of the controversial Block 37 retail center here in the Central Loop, a new five-story property that is 30% leased. Bank of America, which took over the property, reportedly sold the center to the Los Angeles-based firm for $84 million.

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