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Chicago Sun-Times
Chicago Sun-Times
National
Phyllis Cha

California buyer of Marina City’s retail space has ‘big plans’ for the downtown Chicago site

California JLL Pebblebrook SunTimes
The retail space and two parking garages at Marina City, 333 N. Dearborn St., center, were sold to a California-based foundation operated by Sperry Commercial. (Sun-Times file photo)

A California foundation linked to Sperry Commercial scooped up the retail and parking garages at the iconic Marina Towers for $30 million, and Rand Sperry, CEO of Sperry Commercial and one of the foundation’s trustees, said it has “big plans” for the site.

Sperry said the foundation plans to renovate the site and fill two 10,000-square-foot vacancies at the retail center, which he believes resulted from the COVID-19 pandemic.

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