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| MILA Apartments, Michigan Avenue and Lake Street, Chicago, IL |
CHICAGO, IL –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged $150 million in financing
for MILA, a 41-story, 402-unit
luxury apartment tower located along Chicago’s Michigan Avenue.
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| Daniel Kaufman |
MILA is situated at the
northwest corner of Michigan Avenue and Lake Street in the heart of Chicago’s
CBD, steps from the Chicago River and highly amenitized Chicago Riverwalk.
With a WalkScore® of 98
and Transit Score® of 100, the property’s East Loop location is at the
confluence of some of Chicago’s most notable entertainment, retail and employment
districts, including the Loop, Lake Shore East, River North, Streeterville and
the Magnificent Mile.
Designed by renowned bKL Architecture, the
LEED Gold-certified property comprises 402 luxury residences and 21,129 square
feet of retail space, which is leased to Starbucks, Roti Mediterranean Grill
and Liberty Travel.
Dan
Completed in May 2016, the stabilized property
offers state-of-the-art amenities, including a rooftop relaxation pool and
sundeck; urban garden with grilling stations, fire pits, outdoor TVs; and game
room with tech bar.
The property also includes a fitness center,
pet salon with outdoor dog run, concierge service and an enclosed parking
garage. Homes feature gourmet kitchens
with stainless steel appliances, high-gloss cabinetry and quartz countertops;
floor-to-ceiling windows; spacious closets; full technology package; and
in-unit washers and dryers.
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| James Conley |
The HFF debt placement
team representing the developer was led by managing director Danny Kaufman and director Jimmy Conley.
“It has been a pleasure to
work with the development team at The John Buck Company on this successful
refinancing,” Kaufman said. “MILA is one
of the best examples seen today of luxury living in Chicago’s high-density
urban core.
"The property’s excellent lease-up and strong operations are a testament to the quality of the project and the sponsorship group’s ability to execute on their plan.”
"The property’s excellent lease-up and strong operations are a testament to the quality of the project and the sponsorship group’s ability to execute on their plan.”
For more information on this news release, please
contact:
Olivia Hennessey
Public Relations
Specialist
HFF | 9 Greenway Plaza,
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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