Local Investors Eye Blues Brothers Mall Site

February 18, 2010

Daily Real Estate Updates

sudler-sothebys-logo 18 February 2010 ? In 1979, producers of “The Blues Brothers” brought to life and then destroyed the old Dixie Square Mall in Harvey. The mall had been closed for a short period before the film’s famous car chase wound its way through the stores and shoppers. Today, the mall sits in ruins, redevelopment plans have risen and fallen over the years. But a new life for the site may be more of a reality now than ever before. A group of local business owners and industrialists has tagged the site for potential development of a discount retailer shopping center, with the possibility of additional industrial and residential construction. Flood control would also be part of the plans, as the site is prone to flooding. The idea was generated by the current owners of the site, Main Street Capital. Investors have put up $3MM to clear the title of the property, but needs at least $5 MM for demolition. The group is looking for government help to complete the project, but information on the type of funding has not been made public. If funding is obtained, demolition could start as early as March.

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About Stacy Braack

Stacy is a seasoned real estate professional with a broad range of hands-on experience including first time buyers, investors, luxury homes, and distressed properties. While this may appear to be a scattered set of expertise, she believes the experience provides maximum effectiveness in today's chaotic market, which requires extensive knowledge of all aspects of the industry. Stacy's educational background includes a BS in Industrial Engineering from Stanford University and an MBA in Marketing and Finance from the Kellogg Graduate School of Management. Professionally, Stacy has done everything from operations consulting to city government before she found her passion in real estate almost eleven years ago. It is this passion that drives the most benefit to her buyers and sellers. She is fully committed to your goals - both financial and personal. Her clients describe her as extremely direct, honest, and responsive, and they repeatedly trust her to handle one of the biggest events in their lives. For buyers she works non-stop to find you both a home you will love to live in and one that is a smart investment. Many of her 2008 buyers have realized instant equity in their new homes through 'pit bull' negotiation skills. While the market has been tough for sellers, her listings have sold at a rate above that of the market. Extensive, constant, and extremely high-quality marketing, including both print and internet mediums, support every listing, from investment studios to luxury penthouses. She believes that your goals are her priority and her full-time job. She has built her business on referrals from satisfied clients, and she would love to add you to that list. You can contact her at 773-405-4431 or stacy.braack@sothebysrealty.com

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