Case Studies
State Place
Chicago, IL
In 2003, Canyon Johnson joined with three of Chicago's most respected real estate firms, Mesirow Stein Real Estate, Inc., Near North Properties, Inc. and Northern Realty Group, Ltd. to develop State Place, a luxury condominium and retail center in the South Loop.
State Place is situated in one of Chicago's most historically significant neighborhoods. For seventy years the property was the site of Chicago's police headquarters. At the time of the purchase, it held a run-down, vacant thirteen-story building.
The project team demolished the existing building and developed a 243-unit condominium building, with ground floor retail and an enclosed private parking garage. The development now anchors a residential corridor that boasts unfettered access to Chicago transit, to the downtown entertainment and shopping districts, prestigious universities and many major tourist attractions. Today, retailers include Walgreen's, Fitness Formula Health Club and Spa, Coldwell Banker Real Estate, Charter One Financial, H & R Block, Verizon Wireless, Hair Cuttery and Benchmark Medical.
Three years after beginning the redevelopment, Canyon Johnson and its partners sold the Shops at State Place, underscoring the vitality of the development and the surrounding community.
The overall impact of the investment was stimulating more positive development in the area and enhancing the overall value of the South Loop, creating a positive effect on this diverse community that will last for many years to come.
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