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Chicago & Midwest  + Downtown  + Finance  | 

Near West Side Apartments Land $38M Construction Loan

Associated Bank completed a $37,800,000 construction loan to Marquette Companies and Kayne Anderson Real Estate for the renovation of an 18-story building at 1926 W. Harrison St. on downtown Chicago’s Near West Side. The building is in the Illinois Medical District, within walking distance of Rush University Medical Center as well as Hyatt House.

The renovation will include a total of 272 studio, one-, two- and three-bedroom units. Affordable rents will be available for 52 units.

Common area improvements will include a fitness center, co-working space, rooftop deck and a dog-run. An August 2021 completion is expected.

Associated Bank was the lead arranger and administrative agent, working with Wheaton Bank and Trust. Elizabeth Hozian, SVP with Associated Bank’s Commercial Real Estate team, handled the loan arrangements and closing.

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Associated Bank’s Hozian

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
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