August 14, 2020
Draper and Kramer, Incorporated launched construction on a seven-story, 120-unit mixed-use development at 949 W. Dakin St. in the North Side’s East Lakeview neighborhood. Located two-and-a-half blocks north of Wrigley Field, the transit-oriented development replaces a single-story structure whose tenants included Ace Hardware, which is expected to fill a portion of the project’s retail space.
“Our development at 949 W. Dakin fills a niche in the local apartment market by bringing a boutique rental property to one of the North Side’s most popular neighborhoods,” said Todd Bancroft, Draper and Kramer’s CEO.
He added, “Wrigleyville, in particular, has seen a wave of new mixed-use projects that have transformed the area into a year-round destination for visitors and, increasingly, a full-time home for Chicagoans.”
Draper and Kramer financed the project through the Chicago regional office of the U.S. Department of Housing and Urban Development (HUD). Gershman Mortgage acted as the HUD lender.
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