(CHICAGO) – Co-developers Hines and McCaffery Interests are pleased to announce that they have secured a construction loan for the development of The Lincoln Common. JPMorgan Chase Bank led the construction financing for the development as administrative agent and co-arranger in conjunction with BMo Harris, LBBW and OCBC.
The mixed-use development – designed by Skidmore, Owings, & Merrill and Antunovich Associates – recently celebrated its groundbreaking with Mayor Rahm Emanuel and Alderman Michele Smith, and construction activity on-site will increase markedly in the coming weeks. W.E. O’Neil is serving as the general contractor executing the construction of the project.
Located at the vibrant intersection of Lincoln, Fullerton and Halsted, The Lincoln Common will serve as a new anchor for the Lincoln Park neighborhood, offering a dynamic live-work-play environment just two blocks from the Fullerton “El” stop. The project will consist of 538 modern apartment homes within two brilliant new buildings; 94,000 square feet of exciting dining and retail space; 47,000 square feet of boutique loft office space; and 40 for-sale condominiums. The Lincoln Common will also provide the community with 67,000 square feet and more than 1.5 acres of open public and park space.
Initial opening of the development is scheduled for late 2018 / early 2019. Register to receive project updates at LincolnCommon.com.
Hines is a privately owned global real estate investment, development and management firm, founded in 1957, with a presence in 189 cities in 20 countries and $96.5 billion of assets under management, including $48.5 billion for which Hines provides fiduciary investment management services and $48 billion for which Hines provides third-party property-level services. The firm has 114 developments currently underway around the world, and historically, has developed, redeveloped or acquired 1,205 properties, totaling over 390 million square feet. The firm’s current property and asset management portfolio includes 533 properties, representing over 213 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world. Visit www.hines.com for more information.
About McCaffery Interests
McCaffery Interests is a privately owned, full-service commercial real estate company that has been in the business of investing, developing, leasing and managing real estate for more than 25 years. The McCaffery Interests portfolio of planned, completed and managed projects exceeds 20 million square feet and includes office, mixed-use, hotel and residential properties, as well as large, master-planned communities and land developments. With offices in Chicago, Washington, D.C., Denver, and Pittsburgh, and controlled assets and completed developments valued in excess of $2 billion, McCaffery Interests is one of the most trusted real estate companies in the nation. Please visit www.McCafferyInterests.com for more information.