Property Types Multi-Family
June 24, 2008
The Catalyst, a high rise condo going up in Chicago's West Loop has gotten an $8.4 million loan from Kennedy Funding Inc., the lender reported. The Hackensack-based company recently closed that deal with Catalyst 123 L.L.C.'s Gary Rosenberg, a well-known Chicago developer who founded Urban R2, the site purchaser. Rosenberg contracted with renowned architect Lucien Lagrange to create a building with dramatic angles and distinctive colorful exterior. Once built, Catalyst will offer 217 residential units from the fifth to the 21st level, a three-level, enclosed parking garage with 225 spaces, and more than 15,000 sq. ft. of ground-level retail space. The 22nd floor will house a patio, party room, meeting room, exercise facility and more amenities.
The Catalyst, a high rise condo going up in Chicago's West Loop has gotten an $8.4 million loan from Kennedy Funding Inc., the lender reported. The Hackensack-based company recently closed that deal with Catalyst 123 L.L.C.'s Gary Rosenberg, a well-known Chicago developer who founded Urban R2, the site purchaser. Rosenberg contracted with renowned architect Lucien Lagrange to create a building with dramatic angles and distinctive colorful exterior. Once built, Catalyst will offer 217 residential units from the fifth to the 21st level, a three-level, enclosed parking garage with 225 spaces, and more than 15,000 sq. ft. of ground-level retail space. The 22nd floor will house a patio, party room, meeting room, exercise facility and more amenities.
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