IN BRIEF:
ROSEMONT OKS LAND SALE TO MALL DEVELOPERS

Chicago-based Silver Rock Development Group and a Florida developer plan to build a 550,000-square-foot outlet mall in northwest suburban Rosemont. The village of Rosemont approved a contract Wednesday to sell 14 acres for $10.4 million to a joint venture between Silver Rock and AWE Talisman, a Coral Gables, Fla.-based outlet-mall developer. The best-case scenario is for the venture to close on the property in the second quarter of 2010 and open the mall in time for the 2011 holiday season, says Marc Offit, managing principal of Silver Rock and chairman and CEO of sister company Sierra Realty Advisors. The site is at the southeast corner of the Tri-State Tollway and Balmoral Avenue.

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SOURCE
www.chicagorealestatedaily.com
March 5, 2009

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