- South State Street is a good retail area, known for its mix of modern and historic shopping destinations, including department stores, malls, and popular chains. Located in the Loop’s central shopping district it is close to major attractions like Millennium Park and the Theatre District. Nearby retailers include Target, TJ Maxx, Primark, Uniqlo, Sephora and Anthropologie.
- We acquired this 40,000 sf of retail space, over two floors and basement, for about $36 million in February 2006 from a local Chicago developer.
- The property had been recently renovated and was 100% leased to Urban Outfitters, Office Depot, and Annie Sez on long-term leases. As there was no near-term opportunity to add any significant value we did not co-invest in this asset.
- Equity from a HNW family and debt from Anglo Irish Bank.
