Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Cedar Street Lands Loan for Lakeview Development
Associated Bank arranged a $15,484,000 loan to Cedar Street for the acquisition of a 22,500 square-foot land parcel and subsequent construction at 5440 N. Sheridan Rd. in the North Side’s Edgewater neighborhood. The company will develop a 78-unit, five-story apartment building on the property, currently the site of a surface parking lot.
SVP Daniel Barrins of Associated Bank’s commercial real estate division managed the loan and closing. Financial terms weren’t disclosed.
Method Development, a wholly- owned subsidiary of Cedar Street, will serve as general contractor for the 5440 N. Sheridan project. Method has managed more than a dozen redevelopments of this scale with Cedar Street on the North Side. Cedar Street affiliate FLATS will manage the apartments.
Connect Industrial Midwest is coming to Rosemont, IL on March 4. For more information, or to register, click here.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Development
