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● LIVE Updated 3h ago · 9 sources tracked

Block 37 sold for $30 million to suburban firm planning major overhaul

Downtown Chicago shopping center Block 37 has been sold to an Orland Park real estate firm in a transaction valued at $30 million. The new owner, Edwards Realty Company, plans to execute a major overhaul of the Loop mall, including a complete rebrand, a new name, and a transformation into an experiential retail center. The overhaul is intended to introduce year-round events, new entertainment options, and additional restaurants to address long-standing tenant attraction difficulties.

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  • ✓ Block 37 was sold to Edwards Realty Company for $30 million.
  • ✓ Edwards Realty Company is an Orland Park real estate firm.
  • ✓ The new owner plans to rename the Loop shopping center and execute a major overhaul.
  • ✓ Plans include transforming the property into an experiential retail center that hosts year-round events and attracts new restaurants and entertainment options.
🛡️ Source Corroboration: 9 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

Edwards Realty Company acquired the Block 37 shopping center for $30 million and announced plans for a complete rebrand and major overhaul.

Live updates

  1. Block 37 Sells for $30 Million to Suburban Firm

    Downtown Chicago shopping center Block 37 has been sold to an Orland Park real estate firm in a transaction valued at $30 million. The new owner, Edwards Realty Company, plans to execute a major overhaul of the Loop mall, including a complete rebrand, a new name, and a transformation into an experiential retail center. The overhaul is intended to introduce year-round events, new entertainment options, and additional restaurants to address long-standing tenant attraction difficulties.

    Why it matters

    The downtown shopping mall has historically struggled to secure and retain steady tenants. The acquisition by a suburban real estate firm brings a fresh strategy focused on experiential retail and events to the Loop property. The new ownership intends to overhaul the identity and layout of the shopping center.

    What is confirmed

    • Block 37 was sold to Edwards Realty Company for $30 million.
    • Edwards Realty Company is an Orland Park real estate firm.
    • The new owner plans to rename the Loop shopping center and execute a major overhaul.
    • Plans include transforming the property into an experiential retail center that hosts year-round events and attracts new restaurants and entertainment options.

    What to watch next

    • Announcement of the new name for the Block 37 shopping center
    • Timeline details for the planned mall overhaul and rebrand
    • Specific tenant or restaurant leasing agreements under the new ownership
    Sources used for this update (8)
    1. Crain's Chicago Business — Block 37 sold for $30 million to suburban firm planning major overhaul
    2. Chicago Sun-Times — Block 37 sold to Orland Park real estate firm that plans mall rebrand — and a new name
    3. CBS News — Downtown Chicago's Block 37 mall sold for $30 million
    4. ABC7 Chicago — Edwards Realty Company acquires Block 37 in $30M deal, plans to rename Loop, Chicago shopping center
    5. Chicago Tribune — Block 37 changes hands, and its new owner promises a makeover
    6. chicago.suntimes.com — Block 37 sold to Orland Park real estate firm that plans mall ...
    7. www.cbsnews.com — Downtown Chicago's Block 37 mall sold for $30 million - CBS News
    8. www.chicagotribune.com — Block 37 changes hands, and new owner promises a makeover
    confidence 100%
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