Roosevelt Collection neighbor's buyer IDed

07/06/2011 10:00 PM


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The buyer of the big chunk of property along Roosevelt Road at the Chicago River, and the price they paid for it, have been identified.

The plot, which sits next to the Roosevelt Collection, sold for $18 million to a group called the U.S. Auction Opportunity Fund. Though it’s not clear who’s in charge of the group or what its plans are for the property, the 5-acre parcel is part of one of the biggest planned developments in the city.

The 5-acre plot along Roosevelt Road between the Roosevelt Collection and the Chicago River was bought at a live auction on June 3, a spokesman for Diliberto Real Estate Services, which ran the auction, previously told the Journal.

At that time, Diliberto spokesman Phil Ranstrom said the owner was planning on entering into a joint venture with a builder to build out the site with retail and residential.



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