CIM Group Finishes Apartment Tower at Chicago’s Block 37
- Jun 02, 2016
Chicago—CIM Group has completed construction of the 690-unit Marquee at Block 37 apartment tower, with the first residents scheduled to move in today. The building sits 34 stories above the northern end of the four-level Block Thirty Seven retail center, and is one of the largest newly constructed apartment buildings in the city.
Located at 25 West Randolph Street in the city’s State Street retail corridor and Theatre District, Marquee at Block 37 offers studio, one-, two-, and three-bedroom floor plans. The smallest of the studios is 572 square feet, while the three-bedroom units are 2,102 square feet. Rents range from around $1,900 for the smaller studios to nearly $8,000 for the three-bedroom units.
Common amenities include an outdoor pool and sundeck, fire pits, rooftop hot tub and terraces, dog run and wash, fitness center, event room, business center and an outdoor terrace overlooking State Street. The 275,000-square-foot Block Thirty Seven retail center counts as an amenity, and is a private elevator ride away for Marquee residents.
The development is the final structure at the storied Block 37 site, for which redevelopment began in the late 1980s ended up taking decades. CIM Group, which acquired the retail center at 108 N. State Street in February 2012, repositioned it and began construction of the residential tower in October 2014.
The tower and retail center are among CIM’s growing portfolio of investments in Chicago’s Loop, which the company said fits its investment model, focusing on established and emerging urban areas with solid infrastructure and transportation networks.
The leasing office for Marquee is now relocated onsite. The property brings new transit-oriented residences to The Loop, offering direct access to the city’s extensive pedway system, which connects to the CTA’s Red and Blue Lines as well.