By Sandra M. Jones
Pedestrians pass Block 37 in the Loop. (Antonio Perez/Tribune)
Block 37, the star-crossed shopping center in the Loop, was sold at a sheriff’s auction Wednesday to Bank of America for $100 million.
The sale means Bank of America will take title to the four-level mall at 108 N. State St., officially ending Chicago-based developer Joseph Freed and Associates’ ownership of the property.
In December, Cook County Circuit Court Judge Margaret Ann Brennan ordered Freed to surrender the retail center to a group of lenders led by Bank of America, bringing to a close a more-than yearlong effort to foreclose on the mall. Get the full story »
By Sandra M. Jones
The "Priscilla Queen Of the Desert cupcake" at Magnolia Bakery in New York City earlier this month. (Jemal Countess/Getty)
Magnolia Bakery, the New York chain credited with starting the cupcake craze, plans to open its first Chicago store at the Block 37 shops in the Loop. The bakery signed a lease for 2,550 square feet on the first floor of the indoor shopping mall. The shop is slated to open in June. Get the full story »
Feb. 9 at 2:14 p.m.
Filed under:
Commercial real estate,
Real estate
From Crain’s Chicago Business | The blizzard that paralyzed Chicago last week also postponed the court-ordered sheriff’s auction of the new mall at Block 37. The auction, which would be the largest foreclosure sale of a downtown property in more than a decade, was set for Feb. 2 after a group of lenders led by Bank of America Corp. obtained a foreclosure judgment in December against the four-level mall at 108 N. State St. Get the full story>>
Nov. 19, 2010 at 12:18 p.m.
Filed under:
Commercial real estate,
Real estate
By Sandra M. Jones
Pedestrians walk down State Street past an empty store front in the Block 37 Shops. (Keri Wiginton/Chicago Tribune)
Joseph Freed and Associates will no longer own the star-crossed Block 37 mall in the heart of downtown Chicago, a Cook County Circuit Court ruled Friday, bringing to close a year-long effort by banks to foreclose on the troubled property.
The Chicago-based developer has been ordered to turn over ownership of the high-profile shopping center to a group of banks led by Bank of America on Dec. 17, after documents related to the sale of the property are presented to the court and approved, according to Freed spokeswoman Jayne Thompson. Get the full story »
Oct. 7, 2010 at 12:28 p.m.
Filed under:
Commercial real estate,
Fashion,
Real estate
The Chicago Reader | Local designer Michelle Tan has opened a boutique in Block 37, and Claudia Kleiner is set to join her there next week.
July 28, 2010 at 8:29 a.m.
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