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Highlights
Marquette Companies secured a $55 million construction loan from Associated Bank for its $90 million mixed-use multifamily project, The Union Villa Park, in the Chicago suburb of Villa Park, Illinois.
The development will feature 238 apartments (studios, two and three-bedroom units) and 8,000 square feet of commercial space. The village of Villa Park approved an incentive agreement for the project in 2025.
The financing is part of a growing trend where lenders are showing more confidence in non-Cook County Chicago suburbs compared to the city itself, a shift influenced by factors like a chaotic property tax environment in Cook County.