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Draper and Kramer, Inc. arranges $114 million in construction and refi loans for two tandem development projects in Chicago
Draper and Kramer, Inc. announced a team led by Matt Wurtzebach, SVP with Draper and Kramer’s Commercial Finance Group (CFG), has arranged $114 million in construction and refinance loans on behalf of client Tandem Development for two mixed-use properties in Chicago’s West Loop and River West. The team recently closed on $58.4 million in construction financing for Tandem for 1044 West Van Buren, a to-be-built 18-story mixed-use multifamily building in the West Loop. In addition, it also closed a $55.62 million construction loan refinance for Tandem for Avenir Apartments, a 23-story mixed-use development completed in 2019 at 730 N. Milwaukee Ave. in the River West neighborhood.
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