A Golub/BlackRock joint venture plans to build a 17-story officebuilding, which is already 80% preleased to CBS 2 for a broadcastcenter, and the offices of Morningstar Inc. The company also plansto build a 416-unit apartment building and a 381-unit condominiumtower atop a retail building. Joseph Freed & Associates isconsidering the purchase of the retail portion of the site from theMills Corp.

Attorney Michael Kurtzon with Schwartz Cooper tells GlobeSt.comthat the LaSalle loan should guarantee that the project will becompleted. Developers have tried and failed numerous times to buildon the block bounded by State, Randolph, Dearborn and Washington,the vacant site of a former mixed-use development torn down decadesago.

"This is the key piece of redevelopment on the block," Kurtzonsays. "This is the first piece of it, and should really get thingsgoing. The office building is definitely going up." Joseph McCoyand Julie Heller assisted Kurtzon in the deal. The office complexis scheduled to open in the first half of 2008.

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