Chicago Campus Redevelopment Update
Real estate development and investment firms from here and around the world have shown a great deal of interest in the land that we have offered for redevelopment. The Lord has blessed us with a number of highly competitive proposals.
Moody’s real estate team has been prayerfully evaluating the merits of each bid and has narrowed the field with the expectation of entering into an agreement with a trusted and collaborative development partner within the next few months. There may be some activity on campus such as land surveys and environmental inspections, which is part of the due diligence process by a potential developer as we draw closer to a purchase agreement.
Often, such activity causes rumors and speculations to surface, but please do not rely on outside sources. Instead, know that we will keep everyone updated with the most accurate information. Significant real estate transactions require confidentiality while the details are being worked out, which means that we may not be sharing many details about the campus land development until after an agreement is signed.
Keep in mind that a real estate development project of this size has a long time horizon that includes detailed financial assessments, development planning, municipal approvals and neighborhood engagement. We would appreciate your continued prayers for wisdom and clarity for all involved, and that the Lord would guide our steps toward a partnership that will honor Him, and provide the resources needed for strategic investments at Moody as part of our God-sized vision of doubling our impact by 2030.