Feb
17

Historic Chicago Real Estate Gets New Tenant

February 17, 2011

Target is moving into one of the city’s most architecturally significant pieces of Chicago real estate.

The store will lease space in the Sullivan Center, 33 S. State Street, which is the site of the old Carson Pirie Scott and Company building.

The new store, named CityTarget, will adopt an urban concept that will be smaller than a typical Target store. It will offer fresh food, home goods and clothing.

CityTarget should create about 200 jobs.

The Sullivan Center

The historic Sullivan Center.

Target Corp., which has been negotiating to open a store in the building at State and Madison Streets for more than a year, will lease 124,000 square feet on two floors of the historic Sullivan Center, though only about 54,000 square feet will be for customers.

The Sullivan Center, formerly known as the Carson Pirie Scott and Company building, is a National and Chicago Historic Landmark and one of Chicago’s most architecturally significant buildings.

It was designed by legendary architect Louis Sullivan, ergo the name, built in 1899, then expanded and sold to Carson Pirie Scott in 1904. Sullivan was a mentor to Frank Lloyd Wright.

The building was in the 1988 movie Child’s Play as the place where Andy Barclay’s mother worked.

Carson Pirie Scott utilized its space until 2007. Palatine-based real estate developer Joseph Freed and Associates LLC has been completely restoring the historic landmark.

Throughout the process, the Sullivan Center was designated a LEED-certified green building.

The City of Chicago assisted Freed and Associates with about $24.4 million in TIF assistance and helped the real estate developer acquire other landmark properties along Wabash Street to be redeveloped.

“The preservation and restoration of these important buildings has kept them viable and attractive to new business opportunities that will enhance our State Street commercial corridor,” said Mayor Daley.

“Our investment has paid off and we are pleased to see another major retail tenant occupy the Sullivan Center space and bring new opportunities for employment and shopping for our residents.”

The Sullivan Center currently houses the School of the Art Institute of Chicago, the Flat Top Grill, Gensler architecture firm, The Illinois Department of Employment Security and Walgreen’s e-commerce division.

CityTarget’s Sullivan Center store will be Minneapolis-based Target’s 11th Chicago store and is expected to open in 2012.

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Tracey

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3 Comments

1

[...] week we wrote about a new Target store leasing space in a historic piece of Chicago real estate, so it seems only fair to let you know that one of its main competitors is moving right near [...]

2

[...] of the most historic pieces of Chicago real estate will soon have a big, red bull’s-eye on [...]

3

[...] Corp. is also trying out the urban store concept and setting up shop in a significant piece of Chicago real estate. CityTarget will open in the Sullivan Center in 2012 and will create about 200 jobs. Share and [...]

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