Big retail-apartment project near Lincoln Park lands $182 million loan
By: Micah Maidenberg November 20, 2013
Left in limbo after the real estate market cratered, the $260 million New City development near Lincoln Park has crossed two critical thresholds, signing another anchor tenant and landing a $182 million construction loan.
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In its final iteration the New City project will include about 360,000 square feet of retail space and a 19-story, 199-unit apartment building, about 40,000 square feet of medical office space and a 1,100-vehicle garage.
Anchor tenants besides Dick's include an 82,000-square-foot Mariano's and a 52,000-square-foot ArcLight movie theater, Mr. Drew said. A high-end bowling alley and Canadian restaurant chain Earls also have signed leases.
http://www.chicagorealestatedaily.co...-million-loan#
The completion of this project should amp up that district even further and the erection of that 19 story tower will add nicely to the little skyscraper district developing around North and Clyborn. Hopefully the skyline will one day extend all the way to this area with no more Carbrini scars in between.