Loyola Buys Rogers Park Land Parcel

Loyola purchased the 18,000 square foot parcel for $940,000. The cost per square foot was $52.00 for the parcel located at 6300 North Broadway at the northwest corner of Broadway and Rosemont. The site is approximately one block from Loyola University's campus. This information was generated from Titan Commercial LLC, the real estate firm which represented the university in the transaction.

Currently, there are no immediate plans for the parcel of land, says a Loyola spokeswoman. This location was where developers previously planned on building a five story condominium complex. Peter Graham, an executive with CB Richard Ellis, Inc. states, "My guess is it (the site) would be more for office space or dorms than for retail."

The sale of the property closed on November 22, 2010, and could possibly stay vacant for years, however, redeveloping the land could substantially increase pedestrian traffic and generate business to the area.