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| 1400 Randolph Street Apartments, 278 Units, 25-stories, West Loop Neighborhood, Chicago, IL |
CHICAGO,
IL – JLL Capital Markets announced it has
capitalized the development of a 278-unit, fully-amenitized apartment tower at 1400
Randolph St. in the heart of Chicago’s vibrant West Loop neighborhood and
booming Fulton Market district.
JLL
represented the developer, Marquette Companies, to secure a pension fund equity
partner and construction loan for the project.
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| Darren Sloniger |
The
JLL Capital Markets team representing the borrower was led by Managing Director
Matthew Schoenfeldt.
The senior
financing was provided by Bank OZK. Seasoned industry leaders, Marquette
partnered with Power Construction, a Chicago-based company that has operated
for over 90 years, to build the development with an expected completion date of
Spring 2022.
1400
Randolph Street is a 278-unit, 25-story, high-rise development boasting luxury
apartment living, with clean lines, modern design, coworking spaces, a
state-of-the-art fitness center, club room with a demonstration kitchen and
pool to be located on the 18th floor.
 |
| Matthew Schoenfeldt |
Chicago’s
West Loop neighborhood is home to the area’s most premiere and world-class
shopping and night life. For the food lovers, Randolph Street is also known as
“Chicago’s Restaurant Row” and touts Michelin-star restaurants and the city’s
most vibrant dining scene.
The
development is also transit-friendly, just steps away from the L train Ashland
Station, allowing direct access to The Loop or any corner of the city.
“I
am grateful to JLL for tenaciously pursuing solutions on our behalf as well as
the team at Bank OZK who stood with us to help make this project a reality,”
said Darren Sloniger, President and CIO of Marquette Companies.
“It has been extraordinarily rewarding to represent Marquette in capitalizing this marquee project,” said Schoenfeldt. “Marquette, their institutional partner and Bank OZK have been steadfast in their commitment to 1400 Randolph, which is a testament to the fundamentally compelling concept.”
For more news, videos and research resources on JLL, please visit our newsroom.
Contacts:
Kristen Murphy
JLL Senior Manager
Public Relations
Phone: +1
617 848 1572
Email: Kristen.Murphy@am.jll.com
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