- June 03, 2016
(36 units + retail) – Chicago, IL
1819 Lofts is a 36-unit Class A condo complex recently completed on the main commercial strip of the infill Wicker Park neighborhood of Chicago. In addition to the apartments, the ground floor houses approximately 8,650sf of retail/commercial space and surface parking for 36 cars. The developer is a well -known Chicago-based group which was planning on selling the units individually as condo. RSRC opportunistically offered on the property in a bulk buyout scenario believing that the project will make the ideal mixed-use property in this high barrier neighborhood. The commercial space represents additional upside in the project, as this is a highly sought-after location for retail and commercial uses alike.
|Project Capitalization / Loan (LTV):||$15,400,000 / $4,890,000|
|Structure:||RSRC and Syndication|
|Acquisition Date:||April – 2016|