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Prime O'Hare Site to be Auctioned Off

CHICAGO—A massive hotel and convention center has already been approved, but a buyer could also get the site rezoned for multifamily, retail, office or senior living.

By Brian J. Rogal | brianjrogal | Updated on May 24, 2016

chi-ohare Aerial-New-LowRes The original developer needs to raise funds to pay off investors he pleaded guilty to defrauding.

CHICAGO—Madison Hawk Partners, LLC, a national real estate firm specializes in structured accelerated sales, plans to auction off a 2.8-acre site along the Kennedy Expressway just east of O’Hare International Airport. The property sits at 8201 W. Higgins Rd., one of the few remaining premier development sites along the expressway.

Developer Ashoo Sethi had plans to build a massive hotel on the site, but earlier this year pleaded guilty in federal court to defrauding hundreds of Chinese investors in the project. Madison Hawk officials say he needs to sell this property to raise the funds needed to pay back these investors.

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