Chicago Campus Redevelopment Announcement
Moody and JDL confirm first close on campus redevelopment transaction
Dear Moody Family,
We are excited to announce that today, Moody Bible Institute along with JDL, a Chicago-based development firm, closed on the first of several real estate sale transactions.
The two real estate parcels included in the transaction, completed on December 16, 2021, are the field located north of Oak Street, and a parcel just south of Oak Street adjacent to the Brown Line. (see map below)
We are grateful to sell this surplus land at a time when Moody is at a strong place financially and has no outstanding debt. The net sale proceeds of this initial transaction will be approximately $90 Million. These proceeds will be primarily directed toward a campus redevelopment plan and the vision to double the impact of education, broadcasting and publishing by the year 2030.
JDL will be developing a total of nearly 8 acres of real estate located west of Wells Street across from Moody’s main campus. These 8 acres are being sold to JDL in a series of related transactions, with the next set of sale transactions planned for spring 2022.
The final phase of the “North Union planned development” calls for the construction of a new athletic facility to replace Moody’s Solheim Center in the next few years. Until then, Solheim remains fully operational and available for Moody’s regular fitness and athletic use. Click here to read our FAQ and view our past announcements.
We are proud to contribute to the renewal and growth of the city of Chicago at this vital time and even more excited about how our mission to share Christ with the world and provide practical, ministry training in the city will be enhanced as a result.
Moody Bible Institute has had the privilege of ministering for more than 135 years from our Chicago campus in the heart of the city. We want to remain a vital part of the city and are committed to equipping people to be biblically grounded, practically trained, and engaging the world through Gospel-centered living.
We are thankful to everyone who has joined us in prayer throughout this process. We continue to see the Lord’s hand of provision and protection as we move in step with Him.
Have a joy-filled, meaningful celebration of Christ’s birth this Christmas.