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Land Assembly Stalls in Roseland Plaza Redevelopment

CHICAGO-Crown Commercial Real Estate may get help via the threat of eminent domain to acquire the remaining 17 parcels needed to build a shopping center anchored by a 65,000-sf grocery store at 115th Street and Michigan Avenue.

By Mark Ruda | Updated on October 17, 2005

(For more retail coverage, click GlobeSt.com/RETAIL.)

CHICAGO-A developer has letters of intent from grocery and drug store chains, as well as a clothing retailer, for a proposed redevelopment in the Roseland community. What Crown Commercial Real Estate and Development lacks, however, is control of the entire 6.1-acre site at 115th Street and Michigan Avenue.

Crown Commercial Real Estate and Development principal Musa Tadros continued negotiating with remaining holdouts after he was selected by the city in April to redevelop the former Roseland Plaza. However, after 18 months, Tadros needs the city’s threat of eminent domain to help sway the owners of 17 key parcels. The community development commission recently gave the department of planning and development authority to acquire those remaining parcels, most of them occupied residential or mixed-use buildings, at fair market value.

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