CBRE, in partnership with Chicago State University, launched a Request for Proposals for University Village 95, a mixed-use development opportunity on Chicago’s South Side.
This initiative marks a significant milestone in CSU’s long-term vision to expand student housing and catalyze economic revitalization along the 95th Street Corridor.
CSU – Illinois’ only four-year Predominantly Black Institution – generates an annual $1.6 billion in income for Illinois. This project represents the University’s continued commitment to equitable economic development by creating a modern, thriving hub for students, faculty, families, and the community at large.
The University Village 95 site allows for approximately 232,000 square feet of new construction on a two-acre site. The initial phase could deliver up to 528 student beds and 25,000 square feet of retail space, with occupancy targeted for 2027.
The development is strategically located within the 95th Street Corridor, a key connector between Chicago’s South Side neighborhoods and major employment centers. The area is supported by billions in public and private investment, including the $280 million renovation of the 95th Street Red Line station, a $5.75 billion Red Line extension, $56 million in upgrades to the nearby Metra station, and the $1 billion investment to Chicago’s South Side by Advocate Health Care. CSU’s campus is also adjacent to emerging economic hubs such as the $9 billion Illinois Quantum & Microelectronics Park and the Roseland Medical District.
The RFP follows CSU’s 2023 Facilities Master Plan and the 95th Street Corridor Development Framework Plan, both of which identified urgent needs for student housing and retail amenities. A recent housing survey revealed a 90+ bed waiting list and demand for 915 additional beds among current students. Retail studies also indicate unmet demand for 10,000 square feet of traditional retail and 15,000 square feet of CSU-sponsored commercial space, such as a fitness center and bookstore.
As part of CSU’s commitment to ensuring that the University Village 95 project becomes a catalyst for inclusive growth, equitable development, and strong community partnerships on the South Side of Chicago, it is launching a website that will serve as a clearinghouse for local participation in the project. The University invites local subcontracts, workforce development partners, vendors, and service providers to submit their information per the instructions on the website.
Brandon Green, on CBRE Chicago’s Advisory & Transactions team, and the firm’s national Public Institutions and Education Solutions (PIES) team of Anne Rahm and Michael McShea have been hired to serve as the University’s real estate advisor for the project.
