444 West Lake Street | Suite 1900 | Chicago, IL 60606

Sienna Chicago, IL

 
Sienna_lg

Property Type: Multi-Family

Funds Provided: $7,800,000

Investment Date: 2015

Structure: Equity

Partner: Golub and Company

Deal Synopsis:

Diversified Real Estate Capital formed a joint venture with Golub and Company to develop 50 luxury multi-family units at the southeast corner of Ohio Street and McClurg Court in Chicago, IL.  The development began construction in August, 2015 and was completed in 2016.  The property consists of a six-story building including fifty apartments and 5,767 SF of first floor retail, located in Streeterville, one of Chicago’s most desirable neighborhoods.  The property is adjacent to an eight story parking structure and a forty-five story apartment tower.  Streeterville is home to thousands of luxury rental apartments and condos located only steps from the Northwestern Memorial Hospital Campus, Lurie Children’s Hospital, The University of Chicago-Downtown Campus, Michigan Avenue, and the offices, hotels and restaurants that populate the CBD.  Walsh Construction is the general contractor and Solomon Cordwell Buenz is the architect for the development.