17-story towers receive $62 million construction loan

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HFF has secured a $61.9-million loan for the development of 845 West Madison, a 586-unit community in Chicago.

Located at 845 W. Madison St., in Chicago’s West Loop/Fulton St. submarket, the project is situated on the former H20+ Cosmetics site, according to Multi Housing News.

The two 17-story towers are slated to be completed in 2020 and will include 319 residences in the north tower and 254 in the south.

See groundbreaking story here.

The approximately 720,000-sq.-ft. community will feature a mix of one-, two- and three-bedroom units and more than 10,000 sq. ft. of ground-floor retail space. In-unit amenities will include stainless steel appliances, gas cooktops, quartz countertops, ceramic tile backsplashes, engineered wood floors, washer/dryer and balconies in selected units.

The project is being developed by Lendlease and The John Buck Co. The project’s designer is GREC Architects.

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