Huge South Loop Project Goes on the Block - NBC Chicago

Huge South Loop Project Goes on the Block

$350 million Roosevelt Collection up for sale

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    www.rooseveltcollection.com
    Roosevelt Collection's condos went rental last year.

    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.