Rubloff unit acquires prime river site

Rubloff Financial Services has gained control of a prime site on thewest bank of the Chicago River between Randolph and Washingtonstreets, and expects to develop it as a corporate headquartersbuilding.

The property is directly across from Morton Thiokol on the eastbank, where Morton has put its building and land up for sale. Asreported in this column last fall, Rubloff Financial was negotiatingfor the west bank site, and the deal recently closed.

The land probably could support at least as large a building asRubloff's 123 N. Wacker, a 28-story, 500,000-square-foot tower twoblocks to the east.

Rubloff Financial, a subsidiary of Rubloff Inc. also is …