One of Chicago’s largest and most high-profile land developments at Roosevelt Road and the Chicago River will be up for auction soon. The highly-prized 5+ acre development has 837 feet of riverfront property and 216 feet of frontage on Roosevelt Road. It neighbors many of Chicago’s great attractions, such as Soldier Field, the Museum Campus, and the University of Illinois/Chicago (UIC).
One of the other major selling points for the property is the Roosevelt Collection, which offers over a million square feet of shopping, dining, and lifestyle for Chicago residents and visitors.
The development is a joint project between Diliberto Real Estate Services, LLC, a real estate advisor and auction specialist, and Jos. Cacciatore & Co. Real Estate, a 105-year-old real estate firm in Chicago.
According to Frank Diliberto, president of Diliberto Real Estate, “The auction will reach out to potential buyers in and outside Illinois, enticing investors, corporate users and perhaps hotel flags to look to Chicago for real estate investment. Hotels are once again in the upswing cycle,” he added.
The original development was planned for residential, office, or retail, but new owners could revise those plans for other specialties, such as hotels or entertainment. Prospective bidders who are interested in knowing more can request a bidder package, which includes an aerial helicopter video to give them a bird’s-eye view of the development.
Diliberto Real Estate Services, LLC brings with it 130 years of real estate experience and over $5 billion in sales. Jos. Cacciatore & Co. Real Estate offers brokerage, insurance, parking development, construction, and management services and manages over one million square feet of property in Chicago and surrounding areas.