December 17, 2020
Associated Bank completed a $37,800,000 construction loan to Marquette Companies and Kayne Anderson Real Estate for the renovation of an 18-story building at 1926 W. Harrison St. on downtown Chicago’s Near West Side. The building is in the Illinois Medical District, within walking distance of Rush University Medical Center as well as Hyatt House.
The renovation will include a total of 272 studio, one-, two- and three-bedroom units. Affordable rents will be available for 52 units.
Common area improvements will include a fitness center, co-working space, rooftop deck and a dog-run. An August 2021 completion is expected.
Associated Bank was the lead arranger and administrative agent, working with Wheaton Bank and Trust. Elizabeth Hozian, SVP with Associated Bank’s Commercial Real Estate team, handled the loan arrangements and closing.
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