Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-Letters of intent have been signed for Assumption/St. Catherine and St. Leo the Great, while brokers are negotiating with three bidders for a third South Side church put on the market by the Archdiocese of Chicago. Tower Advisory Real Estate Services principal Martin F. Jablonski says successful bidders for the three properties are expected to be identified by the end of the summer.

The Roman Catholic archdiocese put the St. Laurence Church property at 7140 S. Dorchester Ave., the Assumption/St. Catherine of Genoa Church property at 640 W. 118th St. and the St. Leo the Great Church property at 7747 S. Emerald Ave. on the market earlier this year. Jablonski and the Staubach Co. were hired by the archdiocese to find buyers for the potential redevelopment sites.

“We conducted more than 50 tours of the buildings and received four to six proposals on each property,” Jablonski says. “Redevelopment ideas ranged from residential and senior housing development to community centers to church-related uses. Some offers are for individual properties, and some are for multiple buildings.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.