JLL recently completed the sale of a 146,000-square-foot retail and parking complex known as Marina City for $30 million. The seller was a California foundation associated with Sperry Commercial. According to Rand Sperry, CEO of Sperry Commercial and trustee of the foundation, there are plans to renovate the site and fill two vacant spaces measuring 10,000 square feet each.
Located at 333 N. Dearborn Street in Chicago’s River North neighborhood along the scenic Chicago Riverwalk, Marina City was designed by architect Bertrand Goldberg in 1958 as a self-contained “city within a city.” It is situated at the base of two condominium towers with an attached parking garage spanning 19 floors in each tower.
A major renovation project is on its way for Marina City’s retail space under new ownership by a California investor connected to Sperry Commercial. This iconic complex designed by renowned architect Bertrand Goldberg boasts prime location along Chicago’s picturesque riverfront and will soon see updates including filling vacancies totaling over 20,000 square feet.
