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Maverick Finances Condor’s Pilsen Office Build

Maverick Commercial Mortgage has arranged funding for a loft-style office development in the West Side’s Pilsen. Condor Partners’ Mural Park will be funded by a non-recourse bridge and construction loan in the amount of $33,750,000.

Chicago-based Condor is undertaking the gut renovation of two 100,000-square-foot loft office buildings at 1901 and 1911 S. Sangamon. The three-year financing by an East Coast mortgage REIT will provide funds for the base building, tenant improvements, leasing commissions, soft cost and existing debt on the property.

Mural Park will be a primary destination along the city’s new El Paseo, a four-mile bicycle and walking “rails-to-trails” corridor connecting University Village with Pilsen and Little Village. It will include a large public plaza.

The first Mural Park tenants include 5 Rabbit Cervecería, a Latin American-inspired small craft batch brewery and full-service restaurant. Transwestern’s Jeff Dowdell, Katie Steele and William Briggs are the property’s leasing agents.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Development