Search
 

Chieftain Gets Funding to Build $110M Condos

CHICAGO-The project is to have 333 residential units consisting of 297 condominium units and 35 loft units.

By Gina Kenny | Updated on May 11, 2007

(Read more on the multifamily market.)

CHICAGO-An affiliate of Chieftain Construction Holdings Ltd., based in Ireland, has received a construction loan of $84 million for Lexington Park Condominiums to be located at 2138 S. Indiana Ave. Corus Bank, a subsidiary of Chicago-based Corus Bankshares Inc., provided the loan to finance the construction, says Brian Brodeur, senior vice president of the bank.

Lexington Park Condominiums will have a total of 333 residential units consisting of 297 condominium units and 35 loft units. Amenities for the project include a clubroom, fitness room and landscaped gardens, according to a released statement from Corus Bank. Brodeur said he could not provide detailed information on the project and a phone call to the developer was not returned. The units, which are approximately 50% pre-sold, will be mainly one- and two-bedroom units with some studio and three-bedroom penthouses, says Christopher Murray, senior project manager with Wheeling-based Kenny Construction, which is constructing the building. The units range in size from 656 sf to 1,346 sf with a price range from $230,900 to $521,900.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.