CHICAGO–(BUSINESS WIRE)–CIM Group announced today that it has sold the 690-unit Marquee at Block 37 apartment tower in the heart of Chicago’s State Street and Theatre District. Rising 34 stories atop the northern end of the four-level Block Thirty Seven retail center, the sleek, glass-clad apartment tower developed by CIM offers sweeping views of Chicago. When completed in mid-2016, the tower was one of the largest newly-constructed apartment buildings in the city.
Located at 25 West Randolph Street, Marquee at Block 37 offers transit-oriented residences in The Loop, with direct access to the city’s extensive pedway system, connecting residents to many local businesses and attractions as well as the red and blue CTA lines.
The tower features modern studio, one-, two- and three-bedroom floor plans with a host of on-site amenities including a spacious outdoor pool and sundeck, fire pits, rooftop hot tub and terraces, dog run and wash, fitness center, event room, business center, and an expansive outdoor terrace overlooking State Street.
The 275,000-square-foot Block Thirty Seven retail center is itself a top-tier amenity, only a private elevator ride away for Marquee residents. Block Thirty Seven offers an array of shopping, dining and entertainment options, including an 11-screen AMC Dine-In Theatre. Popular Broadway shows, varied acts and national plays as well as cultural venues are just steps away.
CIM Group acquired the Block Thirty Seven retail center at 108 N. State and applied its experience and proven track record of creating urban mixed-use properties in metropolitan communities across North America to the repositioning of the center as an attractive destination for the community. Completing Marquee at Block 37 and bringing residences fulfilled the city’s long-standing redevelopment vision for this important block in The Loop.
CIM is an active owner, developer and operator of properties in Chicago with its current portfolio including the redevelopment of Tribune Tower into luxury condominium residences, 444 N Michigan Avenue office building, 425 S Financial Place office complex, The Paragon apartments, Chestnut Place apartment building, 1550 On the Park condominiums, and the 725 S Wells data center.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $60 billion of projects in metropolitan communities across the Americas on behalf of its own account and for its partners and co-investors. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and property management experience in real assets located in and serving densely populated communities, net-lease assets and other associated credit strategies. Using its disciplined approach and extensive in-house expertise, CIM seeks to create value in projects, which ultimately enhances communities. For more information, visit www.cimgroup.com.