South Loop’s multifamily project secures $50 million construction loan

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Rendering from Office of Chicago’s 3rd Ward

Associated Bank has secured a $50 million loan for the construction of a 261-unit multifamily project in Chicago’s South Loop, ReBusinessOnline reported.

The project, under development by CMK Cos., will consist of two connected buildings located at 51 E. 14th St. and 1419 S. Wabash Ave. The complex will also include 10,410 sq. ft. of retail space and 95 parking spaces

Construction is slated for completion in August 2019.

Subcontractors include: Electrical – Vader National Electric LLC.; masonry – Adjustable Forms Inc. and RV Builders Corp.; plumbing – Warren E. Thomas; and refrigeration and mechanical – Westside Mechanical.

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