JLL Capital Markets has closed the $127 million refinancing of 465 N. Park Drive, a 444-unit, multi-housing project located in the Streeterville neighborhood of downtown Chicago.
JLL represented the borrower, a joint venture between MetLife Investment Management and Allstate Investments, to secure the five-year loan through The Northwestern Mutual Life Insurance Company.
Built in 2018, the 48-story, LEED-certified property features studio, one-, two- and three-bedroom units with maple white quartz countertops, stainless steel appliances, hardwood plank flooring, spacious walk-in closets, in-unit washers and dryers and floor-to-ceiling windows. The 40,000 square foot amenity package includes a rooftop pool with private cabanas, a resort-style hot tub and sauna, a relaxing lounge with a fireplace, a state-of-the-art fitness center, a work-from-home conference center, ample green space, a club room with lake views, a rooftop sky deck and an outdoor dining area with grilling stations.
465 N. Park Dr. is positioned within walking distance of the Magnificent Mile, Navy Pier, the Chicago Riverwalk, Lakefront Trail and Lake Michigan. Residents benefit from proximity to popular retail, dining and entertainment, as well as numerous transit options. It’s positioning offers immediate access to Northwestern’s seven-block medical campus and the Shirley Ryan Ability Lab. In addition, the community is steps from the Loop and Chicago’s top employers, including Google’s revitalized Thompson Center and Salesforce Tower.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Danny Kaufman, Director Mary Dooley, Director Medina Spiodic, Associate Tara Hagerty and Associate Rebecca Brielmaier.
