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JMB Realty was a real estate investment company based in Chicago. In 1993, after suffering during the early 1990s recession , the company spun off its retail properties as Urban Shopping Centers, Inc. , which was acquired by Rodamco in 2000 and broken up.
In 1984, Aetna sold Urban Investment and Development Corporation of Chicago, to JMB Real Estate Group, for $1.4 billion. [6] In 1993, JMB spun off its retail properties into Urban Shopping Centers, and was traded on NYSE and CSE under "URB". [7] In 2000, Urban was purchased by Rodamco North America. [8]
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