Stopped in their Tracks: Troubled CRE Projects

Location: 108 N. State St., Chicago Project: Mall with pedway access to CTA Original Proposal: In 2005, developer The Mills Corp. broke ground on a 400,000 square foot retail, entertainment and dining complex with office space, hotel and residential tower. The original plans included a CTA station under the complex. Developer: Court-appointed receiver, CB Richard Ellis Inc., took control of the development in January 2010. Status: 278,000 sq ft retail and transit space opened November 2009, currently approx. 22% leased. Photo Credit: CB Richard Ellis