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Newcastle Limited* is representing Roosevelt University in offering a prime 3.3-acre parcel in northwest suburban Schaumburg for hotel development. An offering package for a long-term lease of the site, at the southeast corner of Roosevelt Boulevard and McConnor Parkway, is available at www.newcastleinvestors.com, with sealed bids due July 17.Convenient to I-90, I-290 and Route 53, the site is less than a mile from the new Schaumburg Convention Center slated to open this fall. The parcel is currently an asphalt parking lot. Nearby businesses range from home furnishings giant IKEA and Woodfield Mall — the nation’s second-largest shopping destination — to corporate offices of A.C. Nielsen, IBM, Motorola and Zurich American.Located adjacent to Roosevelt University’s Schaumburg campus, the site offers hotel developers the opportunity to build a mutually beneficial relationship with the school’s Manfred Steinfeld School of Hospitality and Tourism Management through internship and mentoring programs.“This prime three-acre site is ideally suited for a development,” said Roosevelt University President Chuck Middleton. “Located in the heart of Schaumburg, Illinois, the largest center of economic development in the State of Illinois outside the City of Chicago, the property is near international corporations, world renowned shopping, outstanding universities and a 150,000-square foot convention center, which is scheduled to open in July, 2006. The site is adjacent to major highways and a short drive from O’Hare International Airport. Roosevelt University has an outstanding Hospitality and Tourism Management program and looks forward to working with the owners of the new hotel on meaningful internships for its students.”“This location capitalizes on the confluence of business travel and retail traffic in the Schaumburg market,” said S.L. van der Zanden of Newcastle Limited, exclusive marketing agent for the property. “We anticipate strong response to this opportunity.”
About Newcastle Limited
Chicago-based Newcastle Limited provides real estate advisory, development and investment services to institutions, corporations and investors. Newcastle previously oversaw Roosevelt University’s award-winning renovation of Chicago’s landmark Auditorium Theatre, completed in 2002.Roosevelt University is a private, independent university offering academic programs in hospitality, business, performing arts, education and the liberal arts and sciences at comprehensive campuses in the Chicago Loop and northwest suburban Schaumburg. More information is available at www.roosevelt.edu.