JLL Capital Markets arranges $127 million refinancing of the 444-unit 465 North Park Drive multi-housing project in Chicago’s Streeterville neighborhood

 

Mary Dooley

 CHICAGO, IL April. 11, 2024 – JLL Capital Markets announced today that it has closed the $127 million refinancing of 465 N. Park Dr., a 444-unit, located in the Streeterville neighborhood of downtown Chicago.

Medina Spiodic

JLL represented the borrower, a joint venture between MetLife Investment Management and Allstate Investments, to secure the five-year loan through The Northwestern Mutual Life Insurance Company.

 

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Danny Kaufman, Director Mary Dooley, Director Medina Spiodic, Associate Tara Hagerty and Associate Rebecca Brielmaier.

 

Built in 2018, the 48-story, LEED-certified property features studio, one-, two- and three-bedroom units with maple white quartz countertops, stainless steel appliances, hardwood plank flooring, spacious walk-in closets, in-unit washers and dryers and floor-to-ceiling windows.

 Tara Hagerty

The 40,000 square foot amenity package includes a rooftop pool with private cabanas, a resort-style hot tub and sauna, a relaxing lounge with a fireplace, a state-of-the-art fitness center, a work-from-home conference center, ample green space, a club room with lake views, a rooftop sky deck and an outdoor dining area with grilling stations.

Rebecca Brielmaier

465 N. Park Dr. is positioned within walking distance of the Magnificent Mile, Navy Pier, the Chicago Riverwalk, Lakefront Trail and Lake Michigan.

 

Residents benefit from proximity to popular retail, dining and entertainment, as well as numerous transit options. It’s positioning offers immediate access to Northwestern’s seven-block medical campus and the Shirley Ryan Ability Lab.

 

In addition, the community is steps from the Loop and Chicago’s top employers, including Google’s revitalized Thompson Center and Salesforce Tower.

Daniel Kaufman

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

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CONTACT:

 

Jenna Sharp

JLL, Public Relations

 Capital Markets

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com