BWE secured a $17,000,000 loan to finance the acquisition of 939 North Ave., a Class-A, mixed-use property in Chicago’s Lincoln Park neighborhood. EVP Daniel Rosenberg and senior analyst Logan Petersmeyer advised the borrowers, Farpoint Development and MCZ Development Group, on the acquisition and originated the interest-only loan from a debt fund.

“We’re proud to have worked alongside Farpoint and MCZ, two well-respected Chicago real estate firms, to deliver acquisition financing for an iconic asset in one of Chicago’s most dynamic neighborhoods,” said Rosenberg. “BWE will continue to leverage its comprehensive suite of capital solutions to best provide our partners with a competitive advantage in the market so they can deliver high-quality assets like 939 North Ave.”

Situated on a heavily trafficked corner in Lincoln Park, 939 North Ave. features approximately 200,000 square feet of retail, fitness and medical office space. The property also has an attached 350-space parking garage for use by visitors.

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC and President of Inland Real Estate Acquisitions, LLC at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register Today to network with your peers!