Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-Channel 2 will likely be the most visible tenant with a ground-floor studio. However, the CBS-Viacom owned-and-operated television station no longer will be the largest tenant at 108 N. State St., as investment research firm Morningstar has signed a letter of intent for 185,000 sf.

Arlington, VA-based Mills Corp., developer of the “Block 37″ mixed-use project, expects to have Morningstar’s office space, which will spread over seven floors, ready for a March 2008 move. Morningstar has a 15-year lease at 225 W. Wacker Dr. that expires in early 2009.

“We’ve spent the last 18 months conducting a thorough search for office space, including our current location,” says Morningstar managing director of design David Williams. “We believe we’ve selected a location that makes sense financially and that offers many benefits to our employees.”

Channel 2 will occupy the first five floors of the office building, which now could range from nearly 300,000 sf to 450,000 sf, at the corner of Washington and Dearborn streets. The station will get its own address, 2 W. Washington St., and a street-level studio overlooking Daley Plaza to the west.

The two deals put the office portion of the $336-million development ahead of the 417,000-sf retail piece, expected to be the focal point of Mills Corp.’s development of the long-vacant city block in the heart of the Loop. Banana Republic, David Barton Gym, Boggi Milano, Sisley and Andrew’s Ties have committed to opening shops at 108 N. State St., but details including space blocks are not final. Plans also call for 400 to 600 multifamily and hotel units.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.