Walgreens Returns to State and Madison

CHICAGO—MB Real Estate has just completed a 15,400 square foot retail lease to Walgreens within the former Sears’ department store space at 1 N. Dearborn St. The entrance is on the next block at 2 N. State St.

“We had numerous retailers interested in this space, which is the marquee corner on State St.,” says MB Real Estate’s chief operating officer Kevin Purcell. “Ultimately Walgreens recognized the value of returning to the premier space, which they in fact occupied for 50 years from 1949-1999. We also expect to soon announce a lease to another national retailer for a portion of the remaining 7,000 square foot space on State St.”