Thursday, April 21, 2016

University of Illinois at Urbana-Champaign wins the 6th Annual Real Estate Challenge! Honorable Mention goes to Roosevelt University and University of Missouri. Thanks to all the students and advisors for their hard work and dedication this year. And congratulations to the Fighting Illini! — with Nick Bartholomew (BAUP), Eliseo Elizarraraz (BSAS), Ines Andrade (DGS), Austin Pye (BS Finance) and Ben Skinner (BS Finance).

 

CHICAGO  — A team of six students from the University of Illinois at Urbana-Champaign has won first place in the sixth annual Harold E. Eisenberg Foundation Real Estate Challenge. Students from nine Midwest universities competed for a $5,000 scholarship for their school’s real estate education program.

Students presented their concepts, which focused on a 7.4-acre site known as the Englewood Mall District, to a panel of judges. The city-owned land was formerly home to the Englewood Mall, bordered by 63rd and Halsted Streets.

The case site encompassed the Englewood Square project that is being developed by DL3 Realty and the City of Chicago. The 5.5-acre project will include an 18,000-square-foot Whole Foods Market, 22,000 square feet of complementary retail and two outparcels. The development is scheduled for completion this fall.

The winning team’s proposal, titled Station at 63rd, included a community center, community gym, mixed-income residential units and a Center for the Arts and Education. The plans also featured the renovation of the historic firehouse situated on the site and the incorporation of green spaces. The University of Illinois at Urbana-Champaign team also indicated that it would bring color to the neighborhood through collaborative art mural walls.

Through the challenge, students had the opportunity to gain real-life experience in the world of real estate and work alongside qualified mentors and industry leaders as they act as individual development companies tasked with real projects on the forefront of Chicago real estate.

Judges at this year’s competition included Toni Foulkes, Craig Huffman, Aarti Kotak and Al Klairmont.

In addition to the University of Illinois Urbana-Champaign, participating universities included DePaul University, Indiana University, Loyola University, Marquette University, Roosevelt University, University of Illinois at Chicago, University of Missouri and University of Notre Dame.

University of Illinois Urbana-Champaign won first place, and Roosevelt University and University of Missouri took honorable mentions.