By Julie Johnsson
The former Carson Pirie Scott building on State Street. (Heather Charles/Chicago Tribune)
Carson Pirie Scott’s corporate parent is suing Joseph Freed and Associates, accusing the developer of breach of contract for missing a $3 million payment promised to the retailer for exiting its flagship State Street store in 2007.
McRIL LLC, an entity associated with Carson parent Bon-Ton Stores Inc., claimed in a lawsuit filed Friday in a Chicago federal court that Freed and One South State Street LLC missed the final payment of a $22 million lease termination fee that was due March 1. Get the full story »
By Sandra M. Jones
Outside the former Carson Pirie Scott building on State Street. (Heather Charles/Chicago Tribune)
Target Corp. announced on Tuesday long-anticipated plans to open a store in Chicago’s Loop.
The store, called City Target, will lease space in the Sullivan Center at 1 S. State St., which has been empty since Carson Pirie Scott closed its flagship department store in 2007.
Target plans to open the store next year. The urban format, smaller than the typical Target store, will offer fresh food, apartment essentials and clothing. It will mark the Minneapolis-based discount chain’s 10th store in Chicago and create about 200 jobs.
Get the full story »
Dec. 10, 2010 at 5:48 a.m.
Filed under:
Commercial real estate,
Real estate,
Retail
From the Chicago Sun-Times | Target is in the final stages of talks for a deal to anchor the former Carson Pirie Scott store at 1 S. State, a Chicago landmark designed by Louis Sullivan. Target has been interested in the old Carson’s building, now called Sullivan Center, for months. Two sources said a lease is close to be completed, but details could not be learned. Get the full story>>
