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Highlights
CMK Companies secured an $83 million construction loan from Wintrust Bank to launch the first phase of its Riverline development, which includes a 388-unit apartment project at 1010 South Wells Street in Chicago’s South Loop.
The financing is a notable exception in a challenging downtown Chicago market currently facing elevated interest rates and rising construction costs.
The Riverline project, on an 8-acre parcel along the Chicago River, is the remainder of a $2 billion master plan that was split after CMK's joint venture with Lendlease dissolved in 2018.