Marshall Bennett Institute of Actual Property Awarded First Place in Graduate Division of Eisenberg Basis Actual Property Problem

Marshall Bennett Institute of Actual Property college students and mentors, from left, embody Moritz Seban, MSRE 2024; Jon Dennis, college advisor and senior vice chairman of growth at UrbanStreet Group; Patrick Sinwelski, MSRE 2023; Nick Ross, BSBA-RE 2023; Collete English Dixon, MBIRE government director; Shawn Gregoire, MSRE 2023; and Nicolas Paviet, BSBA-RE 2023. (Credit score: Photograph courtesy of Marshall Bennett Institute of Actual Property)

Marshall Bennett Institute of Actual Property (MBIRE) was awarded first place within the graduate division of the thirteenth annual Harold E. Eisenberg Basis Actual Property Problem, which culminated with last displays in April on the workplaces of Holland & Knight, 150 N. Riverside Plaza in Chicago.

Established in 2002, the Marshall Bennett Institute of Actual Property at Roosevelt College (MBIRE) is a number one Chicago-based establishment of upper studying providing grasp’s and undergraduate levels in addition to certificates applications in actual property. The Harold E. Eisenberg Basis’s annual Actual Property Problem matches groups from chosen universities in a contest specializing in a high-profile growth/redevelopment challenge within the Chicago Metropolitan space.

This yr’s problem tasked college students with making a redevelopment plan for 2 websites on the south finish of Goose Island, a 160-acre synthetic island in Chicago bordered by the North Department of the Chicago River to its west and the North Department Canal to its east.

MBIRE’s Catalyst Growth crew was amongst 5 graduate-level college groups to take part in this system. Because the grand prize winner, the crew will obtain a scholarship of $5,000.

For the positioning at 934 N. Department, the MBIRE crew proposed “The Boatyard,” a brand new two-story constructing that may home a sports activities and leisure vacation spot spanning 105,250 sq. ft throughout two ranges. The location would provide a riverwalk and entry to the Chicago water taxi. The second flooring would characteristic miniature golf on a 5,950-square-foot terrace. 

The 1001 N. Department website featured a proposal from the MBIRE crew referred to as “The Anchor,” the redevelopment of the prevailing six-story constructing with a big restaurant recognized for its brilliant, ethereal seashore home décor; a second restaurant and bar providing ping pong and shuffleboard; a industrial ghost kitchen; an city farming enterprise; a self-storage facility; and a luxurious health membership. It was proposed to switch the self-storage with workplace area after the market recovers.

MBIRE’s Catalyst Growth crew included three graduate college students: Shawn Gregoire, MSRE 2023; Moritz Seban, MSRE 2024; Patrick Sinwelski, MSRE 2023; and two undergraduate college students: Nicolas Paviet, BSBA-RE 2023; and Nick Ross, BSBA-RE 2023. 

“Creating possible and interesting developments that may drive site visitors to Goose Island and remodel this industrial space into a brand new vacation spot on the Chicago River whereas additionally serving the encircling prosperous, trendsetting communities might be difficult for even probably the most skilled of actual property professionals, however our crew eagerly dove into the method,” stated Jon Dennis of UrbanStreet Group, who serves as an adjunct professor at MBIRE and advisor for the crew. “These college students labored extremely arduous on their growth proposal and presentation, and I’m so proud to see them rewarded for his or her efforts. They now have a significantly better understanding of all of the elements to contemplate in bringing a mixed-use growth to a high-profile location. This competitors actually pushed their inventive considering, and I used to be so impressed with their imaginative and prescient for these websites.”

Based on the Eisenberg Basis, the profitable plan is probably the most economically viable and complementary to the distinctive makes use of of the encircling website. The Actual Property Problem commences early annually and culminates in April when the coed groups’ displays are judged by a panel of execs.