$215.1m financing secured for Canal Station in Chicago

JLL Capital Markets has arranged $215.1 million in financing for the redevelopment of 801 S. Canal St., a 684,000-square-foot office space in Chicago.

JLL worked on behalf of the borrower, 601W Companies, to secure a senior loan through Bank OZK and a mezzanine loan and preferred equity through Lionheart Strategic Management LLC on behalf of Milestone Asset Management.

Once completed, the creative office space will rebrand as Canal Station, with large, open floorplates and continuous glass windows modernizing the exterior. The fully renovated building will offer amenities, such as a fitness center, tenant lounge, conference center, outdoor terraces and lobby. The building will offer 376 parking spaces, providing easy access to employees and a better parking ratio than most office properties in the Chicago central business district.

Canal Station will continue the transformation of the South West Loop and the legacy of the Old Post Office. The Old Post Office, lo