In light of the COVID-19 situation, the Harold E. Eisenberg Foundation has completely reimagined and transformed the 10th Annual Real Estate Challenge to be a live, virtual event taking place this weekend, as originally planned.
On April 4th, 2020, seven student teams will present their final presentations live to a panel of judges via virtual conferencing technology. Students have quickly transformed their plans in rapid response to the reality of events that affect business-as-normal, while gaining real-world real estate development experience. Despite the recent shelter in place order, the foundation remains committed to providing students with a valuable educational experience, especially during these uncertain times.
This year’s challenge tasks the student teams with creating a hypothetical master plan to redevelop the 7.9-acre, non-core portions on Moody Bible Institute’s campus, which are a mix of low-lying structures, parking lots and a soccer field. What’s unique about this particular year is students must consider the site’s surrounding mission and values—keeping consistent with Christian higher education standards.
“The mission of the Harold E. Eisenberg Foundation is two pronged. In addition to funding gastrointestinal cancer research, we create unique education and mentorship opportunities for real estate students,” said Katie Wales, the foundation’s executive director. “What makes this challenge so exceptional is the opportunity to work on an existing site that has a rich history in one of Chicago’s most thriving neighborhoods. Additionally, students are tasked with considering the mission and values of the Moody Bible Institute, and ensuring they are prominent in the ideas for redevelopment.”
A panel of industry leaders will serve as limited partners, judging the competition and awarding the winning team with $5,000 in scholarships at the conclusion of the event.