Joseph J. Sitt Of Thor Equities Acquires Retail Space At 17 East Monroe St. For $5.15M

The property asset involved in this transaction is located at 17 East Monroe Street, Chicago, IL. The transaction was a sale of retail space totaling 68,536 square feet, with a sale price of $5,150,000, resulting in a price per square foot of $75.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,150,000
• Buyer: Joseph J. Sitt
• Company: Thor Equities
• Date of Sale: 10/05/2026
• Market: Chicago, IL
• Total SF: 68,536
• PPSF: $75

Joseph J. Sitt, through Thor Equities, acquired the retail and office space previously occupied by the Palmer House Hotel, which included 54,136 square feet of retail space and 14,400 square feet of office space along with a 166-space parking garage. This sale significantly impacted the existing financial structure tied to the property, particularly concerning the $57.68 million CMBS loan, leading to a downgrade of the bond rating related to this asset.