A joint venture between Mavrek Development, a Chicago-based, vertically integrated developer, and Fengate Asset Management, a North American alternative investment manager, secured a $130.4 million construction loan to finance 1000 W. Jackson, a class A multifamily development located in Chicago’s West Loop submarket. The 25-story development will feature 380 units (304 market-rate and 76 affordable) and more than 21,500 square feet of ground-floor commercial space, pre-leased to Aldi. Affinius Capital originated the loan on behalf of the joint venture.
Upon completion, 1000 W. Jackson will deliver 380 units ranging from studios to three-bedrooms, each featuring floor-to-ceiling windows with skyline views, nine-foot ceilings, walk-in closets, in-unit washers and dryers, quartz countertops, kitchen islands with pendant lighting, and luxury vinyl plank flooring. The development will offer approximately 31,000 square feet of indoor and outdoor amenities. Outdoor spaces include
