Edward Hassan Of Edwards Realty Company Acquires Retail Asset From Richard Ressler For $30M
108 North State Street
$30,000,000
$107/SF
Building Size
278,000 SF
Asset Type
Retail
Closing
Oct 7, 2026
About this deal
AI
A retail property located at 108 North State Street in Chicago, IL, was sold for $30 million. The asset encompasses a total of 278,000 square feet, resulting in a price per square foot of $108. This transaction took place with the goal of repositioning the mall into an experiential destination focused on retail, entertainment, culture, and year-round programming.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $30,000,000
- Buyer: Edward Hassan - Edwards Realty Company
- Seller: Richard Ressler - CIM Group
- Date of Transaction: 10/07/2026
This transaction marks a significant acquisition for Edward Hassan, who aims to enhance the functionality of the Block 37 mall, previously owned by CIM Group, improving its appeal within the urban landscape of downtown Chicago.
On the Map
$30,000,000
$107/SF
Retail
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Players
Chicago Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93