HFF has arranged $79.65 million financing for the development of 1000 South Clark Street, a 469-unit, luxury apartment tower in Chicago’s South Loop.
HFF worked on behalf of the borrower, a joint venture between iStar Financial and JDL Development, LLC, to secure the four-year, floating-rate construction loan through Bank of the Ozarks.
1000 South Clark Street is located at the intersection of South Clark Street and Roosevelt Road less than two blocks from the Roosevelt “L” station and adjacent to a newly constructed multi-level Target and The Roosevelt Collection mixed-use development. Situated on a 2.53-acre site, the 28-story property will include 469 apartment units.
Community amenities will include a fitness facility and spa including sauna and steam rooms, indoor/outdoor yoga room, indoor swimming pool, all-season indoor/outdoor whirlpool, half-court basketball court, golf simulator and putting green, racquetball court, outdoor running track, multiple lounges and outdoor spaces, theater room, full-service dog day care and dog run, and 24-hour concierge service. The property will also feature a dynamic courtyard entry experience, which welcome residents and visitors.
The HFF debt placement team representing the borrower was led by director Danny Kaufman and executive managing director Matthew Lawton.
