Sterling Organization buys Foot Locker building on State Street

The Florida-based firm also took out an $18M mortgage on the property

209-227 South State Street
209-227 South State Street

The Sterling Organization bought the Foot Locker building on State Street from Metro Park, according to records from Cook County and Real Capital Analytics.

The purchase price was $8.1 million.

Palm Beach, Florida-based Sterling also took out an $18.3 million mortgage on the 100,000-square-foot building at 209-227 South State Street from an entity tied to Los Angeles-based Karlin Real Estate, county records show. It was unclear if some of that money would be set aside for improvements or repairs to the 60-year-old building.

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The building has ground-floor leases with Foot Locker, Kids Foot Locker and House of Hoops, a Foot Locker brand. One portion of the building is six stories, the other is three.

Sterling did not respond to requests for comment.