Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
Chicago & Midwest  + Greater Chicagoland  + Student Housing  | 

Jackson Dearborn Breaks Ground Near U. of Illinois/Champaign

Jackson Dearborn Partners (JDP), based in Chicago, broke ground on ICON, a 276-bed student housing project at the University of Illinois in Champaign. This project is being developed with two local partners: Sub4 Development, a construction and development services firm, and Green Street Realty, a property management company.

“The goal of this project is to deliver a full-amenity building in a premier location at boutique building pricing,” says JDS’ Ryan Tobias. “Despite turmoil in the markets, we remain confident that premier institutions like the University of Illinois are well positioned in the long term.”

The equity was placed through CrowdStreet using Qualified Opportunity Zone funds. The tax benefits and long-term hold strategy led to a full allocation of funds within 28 minutes of opening up for investment.

Construction financing was provided by a regional bank sourced by Chicago-based Alpha Capital CRE. ICON will be open for the 2020-21 academic year.

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Jackson Dearborn

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
New call-to-action