RE Holdings Group LLC, connected to Chicago Bulls and White Sox owner Jerry Reinsdorf, has acquired half of a mostly vacant block near the United Center in Chicago. The land was purchased from Joseph S. Feldman, Jr for a total sale price of $17,200,000. This transaction hints at potential development opportunities in the area, as Re Holdings Group and other companies affiliated with Reinsdorf have shown a growing interest in the development potential near the arena.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $17,200,000
• Buyer: RE Holdings Group LLC - Jerry Reinsdorf, Howard Pizer & Terry Savarise
• Seller: Joseph S. Feldman, Jr
• Market: Chicago
• Address: 1727 West Adams & 125 South Wood

The acquisition by RE Holdings Group LLC, led by Jerry Reinsdorf and his team, indicates a strategic move towards potential development in the vicinity of the United Center. This purchase follows a series of recent acquisitions by Reinsdorf-affiliated companies, further highlighting their interest in the area's development potential.