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Roseland Plaza Developer Selected

CHICAGO-Crown Commercial Real Estate and Development, whose principal Musa Tadros operated a grocery store at the former Roseland Plaza shopping center at 115th Street and Michigan Avenue, has identified 35 potential tenants for his grocery-anchored project.

By Mark Ruda | Updated on April 14, 2005

CHICAGO-Crown Commercial Real Estate and Development has been chosen to redevelop the former Roseland Plaza shopping center at 115th Street and Michigan Avenue. While details of the grocery-anchored center are being worked out, the selection by the community development commission Tuesday gives Crown Commercial Real Estate and Development a boost in negotiations with remaining property owners, according to the department of planning and development.

Although most of the 6.1-acre site includes city-owned land, Crown Commercial Real Estate and Development principal Musa Tadros has acquired three of 10 privately-owned parcels, and has contracts on two more. Negotiations continue with the remaining five property owners, says department of planning and development project manager Karen Forte.

Tadros, whose retail developments include Chatham Village Square at 87th Street and Cottage Grove Avenue, was the only developer to respond by the department’s Jan. 21 deadline for proposals, Forte says. The city hopes to see a full-service grocery store, a sit-down restaurant and branch bank among the retail tenants at Roseland Plaza, which has been closed for several years. Tadros operated a grocery store at Roseland Plaza from 1982 to 1991, embarking on his real estate career when he got his broker’s license in 1992, Forte says. Tadros’ holdings include a store occupied by Hollywood Video across the street from his proposed development.

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