Atlanta-based developer Wood Partners has landed a $96 million construction loan for an apartment project north of the Roosevelt Collection, according to Cook County property records. In December, the city approved a 33-story building with 496 units that Wood had proposed on the vacant site along the Metra tracks south of Polk Street.
A Wood venture took out the loan from JP Morgan Chase Bank and paid $15.5 million for the property in December, buying it from a joint venture between Chicago-based McCaffery Interests and Los Angeles-based Canyon-Johnson Urban Funds, county records show. A Wood representatives did not return phone calls.
We've updated our development tracker with this tower. Feel free to click around to see the wide variety of projects happening in the Sloop!
(Hat tip: NR & SE!)