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JV Secures $102M Construction Financing on River North Mixed-Use
A co-development and joint venture between Mavrek Development, GW Properties, Luxury Living Chicago Realty and Double Eagle Development has closed on $102.2 million construction financing with MSD Partners for a mixed-use property in Chicago’s River North neighborhood. The 21-story property will include 248 luxury apartments, 40,000 square feet of office and 8,000 square feet of street-level retail.
“We are excited to get this project financed and begin construction,” said Adam Friedberg, partner at Mavrek Development. “Mavrek Development is excited to continue our growth as one of the most active development groups in Chicago.”
In addition, the team has announced the property’s name as The Saint Grand. It will replace a parking garage located at 535 N St Clair. Demolition is underway and groundbreaking is anticipated by year’s end. The office will be ready for tenant build-outs to start in 2023’s third quarter, with the residential delivering in early 2024.
- ◦Development
- ◦Financing


