Wintrust Business Minute: The mall at Block 37 is up for sale again

Wintrust Business Lunch

English - November 14, 2023 19:34 - ★★★★★ - 8 ratings
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Steve Grzanich has the business news of the day with the Wintrust Business Minute. The shopping mall at Block 37 in Chicago is up for sale again. CIM Group has hired Jones Lang LaSalle to sell the property at 108 N. State, according to Crain’s. The five-story space has a mix of tenants but selling […]

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

The shopping mall at Block 37 in Chicago is up for sale again. CIM Group has hired Jones Lang LaSalle to sell the property at 108 N. State, according to Crain’s. The five-story space has a mix of tenants but selling it could be a challenge. Most retail outlets have been dealing with decreased foot traffic since the pandemic, and with higher interest rates, it’s a tough environment for landlords. The property was put on the market back in 2016 but never moved. The Block 37 mall is about 70% leased. Back in 2016 it was 63% leased.

Also, a new report says revenue growth at companies that allow remote work has gone up four times faster than workplaces where office attendance is mandatory. Listen for more below:

https://serve.castfire.com/audio/4457216/4457216_2023-11-14-192616.64kmono.mp3