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Highlights
A joint venture of Third Coast Real Estate and ZSD secured a $44 million construction loan for a nine-story, 149-unit apartment project at 300-324 West Huron Street in River North, Chicago.
The financing includes a $38.1 million construction loan from CIBC and $6 million in preferred equity from N3 Capital Management, with the total development cost pegged at $57 million.
The project, which is breaking ground on a long-dormant parking lot, is proceeding under existing zoning, allowing it to bypass Chicago’s Affordable Requirements Ordinance, and is slated for a March 2027 completion.