Police said the body was found near West 62nd and South May streets in the city's Englewood neighborhood.
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Investigators are working to identify the body, to determine if it is that of Vasudeva Kethireddy, a 76-year-old man from northwest suburban Rolling Meadows, who disappeared on Aug. 4.
Around 5:30 p.m., the Rolling Meadows Police Department provided an update on their investigation into Kethireddy's disappearance. The statement said that Rolling Meadows detectives were on the scene in Englewood where the body was discovered, though its identity was still unknown. The body was taken to the Cook County Medical Examiner's Office.
"Right now all we know is that there was a body found. There is no conclusive evidence to whether it is him or not," said the missing man's son, Shantan Kethireddy. "All signs point to the fact that it could be, but again, I want to let the medical examiner do their work."
The senior Kethireddy was last seen at the Chase bank branch at 6940 South Ashland Avenue in Chicago's West Englewood neighborhood, according to Rolling Meadows police. Surveillance video shows he entered the bank around 4 p.m.
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Kethireddy left his home at about 8 a.m. on Aug. 4 with plans to collect rent payment from his tenants on the South Side. His family said he owns about a half dozen properties. The tenant he had planned to meet said he did not show up.
He was last seen driving a white 2005 Toyota Prius with Illinois license plate AR74968, police said. That plate was last detected near 70th and Lafayette near the Dan Ryan Expressway. The Prius was found abandoned on Aug. 7 in Chicago near West 60th and South May streets, police said.
Community Activist Andrew Holmes said that Kethireddy's credit cards were used in the area where the vehicle was located, including at a nearby Citgo gas station, shortly after he went missing. The credit card was used to purchase bleach.
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Kethrieddy's family has been searching every open lot, overgrown walkway and abandoned building in Englewood they can find.
"We just about covered Englewood completely since he has been missing, thanks to the community who have been involved in this," Holmes said.
Kethireddy came to Chicago after growing up in a poor neighborhood in India more than 40 years ago. He took pride in providing places to live for people in the underserved Englewood neighborhood, his family said.
They said he loved the Englewood neighborhood, and people there knew him well. His beloved grandchildren keep asking where he is.
Last year, Kethireddy was carjacked and went missing. A day later, he called from Stroger Hospital. His family hoped something similar happened in this situation. Now, they're just seeking closure.
"It would make me very happy if my dad was having a margarita on a beach somewhere but realistically it is Sept. 28 and he went missing on Aug. 4," Shantan Kethireddy said.
Kethireddy's disappearance is still an open investigation with an $11,000 reward available for information. Anyone with information is asked to contact Chicago police.
"We're really desperately asking for anybody with information to come forward," Shantan Kethireddy said.
And Kethireddy's family has a message for the person responsible for their patriarch's disappearance.
"At the end of the day, this was really just a complete senseless act against somebody that, if you asked him for all the money in his pocket, would have just given it to them," Shantan Kethireddy said.