Columbia College Puts South Loop Dorms On Market
Columbia College Chicago retained Colliers International to market a 343-room dormitory it owns in the South Loop, a few weeks after being part of the largest student housing sale in Chicago. Colliers is expecting bids in the mid- to upper $20M range for 731 South Plymouth Court, according to Crain's Chicago Business.
Colliers is marketing the landmarked 162K SF building, originally built in 1897 as a printing plant, as a redevelopment opportunity whose large floor plates would be ideal repurposing for multifamily or hospitality uses. Its location in the heart of the South Loop and Printers Row gives users access to the 'L' system, an array of bus routes, access to the expressway system and a host of retail within walking distance.
Columbia College Chicago, Roosevelt University and DePaul University sold University Center last month in a record $201M deal. There was some speculation that interest in the 1,729-room dorm would be tempered by declining enrollments. Columbia College Chicago expanded its campus over the past decade — peaking at 12,464 students in 2008 — but is now dealing with a sharp drop in student population; 8,120 students enrolled at Columbia last year.