Huge South Loop Project Goes on the Block

$350 million Roosevelt Collection up for sale

By Marcus Riley
|  Wednesday, Dec 22, 2010  |  Updated 11:45 AM CDT
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Open House Chicago 1019 N. Dearborn St.

www.rooseveltcollection.com

Roosevelt Collection's condos went rental last year.

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Chalk it up to another victim of the real estate crash.

A $350-million housing and retail project that was a key component of a surging South Loop just a few years ago, is now up for sale.

The developer of The Roosevelt Collection, located on Roosevelt Street just west of Clark, has hired a company to sell the property, Crain's reports.

The retail and residential project, which was launched in 2007, has only managed to attract one retailer, a movie theatre, and the 342 condos units were turned into rental properties last year, according to Crain's.

The project may only be worth half of the $350 million it cost to build.

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