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Chicago & Midwest  + Downtown  + Finance  | 
apartment development Chicago commercial real estate

Marquette Lands $57M Construction Loan on Near West Side Multifamily

Associated Bank has completed a $57,184,000 loan to Marquette Companies for construction of a 22-story apartment building at 513 S. Damen Ave. on Chicago’s Near West Side. The project is located within the Illinois Medical District. 

SVP Elizabeth Hozian with Associated Bank’s commercial real estate division handled the loan arrangements and closing. Associated Bank was the lead arranger and administrative agent, working with Wheaton Bank and Trust. 

The building will have 279 studio, one-, two- and three-bedroom units. Common area features will include a pool, fitness center, co-working space, tenant lounge, rooftop deck, dog park, dog wash, dog run and bike storage. The building is slated for completion by March 2023.

Rendering courtesy of Brininstool & Lynch.  

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Inside The Story

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).

  • ◦Development
  • ◦Financing
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