Block 37 sold to Bank of America

March 23, 2011 7:33:44 PM PDT
The Block 37 shopping center in Chicago's Loop was sold Wednesday to Bank of America for $100 million. The property was in foreclosure.

In December, a Cook County judge ordered developer Joseph Freed and Associates to surrender control of Block 37. It went up for auction Wednesday. Bank of America was the only bidder.

The office portion of the building has a separate owner. That was not part of the foreclosure sale.