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Chicago & Midwest  + Greater Chicagoland  + Student Housing  | 

Associated Bank Provides $20M Construction Debt on Champaign Student Housing

Associated Bank completed a $19,927,696 construction loan to Green Street Realty and Jackson Dearborn Partners for a student housing project adjacent to the University of Illinois at Champaign-Urbana. ICON, the six-story, 276-bed student housing building, will be located at 309 E. Springfield Ave. in Champaign’s Campustown neighborhood.

The project will have studio, one, two, three and four-bedroom units. Amenities will include a fitness center, lobby and lounge area, and a third-floor deck with an outdoor grilling area.

SVP Alec Bliss of the Commercial Real Estate division of Associated Bank managed the loan and closing. Ground has been broken on ICON, and completion is anticipated in time for the start of the 2021 / 2022 school year.

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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 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
  • ◦Financing
  • ◦Development