Real Estate Challenge
Roosevelt University won the 2017 Challenge title for their exceptional presentation concept titled The Innova District. The winning team was comprised of Iryna Auchynnikava, Joseph Copak, Gedeon Dansou, Michael Kritzman, Rose McKeon, Robin Schabes. Ken Marino served as their team advisor.
Honorable Mention was awarded to the University of Illinois at Urbana-Champaign. Thanks to all of our student teams and advisors for their hard work and dedication this year!
ABOUT THE PROGRAM:
The Harold E. Eisenberg Foundation’s Annual Real Estate Challenge matches teams from selected universities in a competition focusing on a high profile development/redevelopment project in the Chicago Metropolitan area. Each team is assigned the same Case Site and provided the same essential information and/or assumptions about the Property. The students’ development plan must constitute a comprehensive analysis and conclusion of how to maximize the potential of the Property from both a quantitative (financial) and qualitative (feasibility) standpoint. For more information on this program, please click here.
ABOUT THE 2017 CHALLENGE:
This year’s Challenge focused on a parcel of City of Chicago and Imperial Realty Company-owned land that was formerly the home of the U.S. Sixth Army Headquarters and Quartermaster Depot and the headquarters of Chicago Public Schools, bordered by a train depot to the south, S. Western Blvd. to the west, S. Ashland Blvd. to the east, and W. Pershing Rd. to the north. The Challenge was composed of three buildings formerly home to the Chicago Public Schools headquarters, six buildings used for industrial space, a building used for City of Chicago Department of Streets and Sanitation, the W.F. Hall Self Storage facility, a historic clock tower, and a parking lot on the west side of the site.
Each team acted as a separate development company responding to a Request for Proposal from the City of Chicago and Imperial Realty Company to purchase the site and to redevelop it into a dynamic project. Proposals outlined a transformative development plan that would redevelop the District into a dynamic real estate project with the most optimal financial returns for the sellers. The City of Chicago and Imperial Realty Company looked for teams to submit proposals that were both realistic but also metamorphic for the area in the years to come.
More details about the site and this year’s Challenge can be found in the 2017 Project Brief.
THANK YOU TO OUR PARTICIPATING SCHOOLS:
University of Illinois at Urbana-Champaign
University of Missouri
University of Notre Dame