Ivy team competes in 15th annual Real Estate Challenge
On Saturday, April 5, the Iowa State University master of real estate development (MRED) team competed in the 15th annual Real Estate Challenge, presented by the Harold E. Eisenberg Foundation, in Chicago, Illinois. The team was led by faculty sponsor James Spiller, associate professor of practice in finance, and comprised of three Ivy MRED students: Roxanne Ibe (also pursuing her MBA), Trey Castle, and Nicholas Salzle.
“Our team volunteered for this project knowing it would require a serious time commitment and include an in-person component in Chicago,” said Castle. “That shared understanding up front set the tone for a strong work ethic and dedication across the board. We each brought unique strengths to the table and supported one another throughout the process. Nick and Roxanne were incredibly professional in every aspect — organized, thoughtful, and reliable. It was a great experience working with teammates who were not only capable but also genuinely committed to doing the work well.”
The challenge included 25 undergraduate and graduate teams from universities across the country. Participants competed in a high-profile redevelopment project in the Bronzeville neighborhood of Chicago, Illinois.
The Iowa State team presented a comprehensive analysis and conclusion on how to maximize the potential of the site for financial feasibility, sustainability, and community impact. A panel of industry leaders served as judges to determine the final teams and award the winners.
“Classroom study is undoubtedly valuable, but there’s nothing quite like the education that comes from working through the challenges of putting together a comprehensive development project from start to finish.”
— Roxanne Ibe
Despite it being Iowa State’s first year entering the competition, the team excelled and delivered an incredible presentation. They were awarded third place and returned to Ivy with a new trophy for the case.
“I think we really learned a lot through this experience, about our field of study and about working together as a team,” said Ibe. “Classroom study is undoubtedly valuable, but there’s nothing quite like the education that comes from working through the challenges of putting together a comprehensive development project from start to finish. We’re very grateful for the opportunity to be a part of this and represent Iowa State.”
The Harold E. Eisenberg Foundation is a nonprofit organization focused on real estate education, mentorship, and gastrointestinal (GI) cancer research. Learn more about the Harold E. Eisenberg Foundation and the Real Estate Challenge.
To connect with the team, visit the students’ individual LinkedIn pages: Roxanne Ibe, Trey Castle, and Nicholas Salzle.
Spark a change in your career
The first of its kind in the Midwest, the master of real estate development (MRED) program at the Ivy College of Business helps working professionals pursue a career in real estate.
May 23, 2025
