Block 37’s New Owner Wants To Get Rid Of ‘Old Mall Vibe’

DOWNTOWN — Block 37, a prominent shopping center in the Loop, has a new owner and will also soon unveil a new name. Edwards Realty Company, a local real estate development and property management firm that specializes in revitalizing underperforming properties, announced Wednesday that it bought the property for $30 million, less than half of what it sold for in 2012. The company plans to turn one of the Loop s most notoriously difficult development sites into a “modern experiential destination,” with year-round programming, strategic partnerships and entertainment offerings, although the owners did not name specific businesses that might be coming to the complex. “Michigan Avenue is recovering quite well, and we think State Street is bound to do that too, Ramzi Hassan, president of Edwards Realty Company, said in an interview with Block Club. “We re in at the right basis to make the investments that we need to make to really serve the community and carry out what we think …