Thor Equities Sells Jordan Flagship Location in Chicago

The two-level athletic store traded for $44.2 million.
28-32 S. State St.

28-32 S. State St.

Chicago—Thor Equities has recently closed on the $44.2 million sale of 26-34 S. State St., in the Chicago Loop. The property currently houses the first dedicated Jordan Brand store, which first opened its doors to clients in October 2015.

Thor leased roughly 12,000 square feet of retail space to 32 South State: The Jordan Brand Retail Experience back in 2014. The two-story building offers sneakers, apparel and other merchandise featuring the trademarked Michael Jordan “Jumpman” silhouette, as well as a basketball gym and consumer lounge. Footaction also operates a 12,000-square-foot, two-level store adjacent to the Jordan Brand store.

“After upgrading 26-34 South State St. and successfully leasing the retail space, we felt the time was right to sell this highly desirable building in the heart of the Chicago Loop,” Joseph Sitt, Thor Equities CEO, said in a statement.

Thor Equities owns various properties in Chicago, including 1229 W. Randolph St., 905 W. Fulton Market, 230 N. Peoria St., and the recently purchased 942 W. Fulton Market in the Fulton Market neighborhood. In early October, the company signed a long-term lease with Modell’s Sporting Goods at 135 E. 125th St., in New York City’s Upper Manhattan.

Image courtesy of Thor Equities