Holliday Fenoglio Fowler (HFF) has secured joint venture equity and construction funding for a new apartment project in Chicago’s West Loop neighborhood.
HFF worked on behalf of the developer Fifield Companies and F & F Realty to secure a joint venture partnership with affiliates of Ares Management. The firm has also secured a $117.768M in construction funding from the Bank of the Ozarks.
The new 46-storey 727 West Madison Street, designed by FitzGerald Associates, will include 492 residential units, averaging 73 sq m, in a mix of studio to three-bedroom floor plans.
The units will incorporate modern finishes such as stainless steel appliances, kitchen islands, custom tile, wood floors, frameless shower doors and in-unit washers and dryers.
The propriety will feature about 929 sq m of retail space and 376 parking spaces. It will also include a swimming pool, a hot tub, a fitness centre, a yoga room, a conference room, a game room with a billiards table, a residents’ lounge with coffee bar, a movie theatre, a demonstration kitchen, a dog park, and a car wash area.
HFF managing director Danny Kaufman said: “727 West Madison will redefine the residential landscape of the Fulton Market district and will be an asset to the community for years to come.”
The project is expected to be complete in the end of 2018.
* Data provided by Timetric's Construction Intelligence Center.
* Image credit: FitzGerald Associates Architects.