Optima Closes $60M Financing for Chicago-Area Luxury Community
The property is located in one of the most supply-constrained submarkets in the Chicago metro.
Optima, Inc. has secured nearly $60 million in construction take-out financing for Optima Verdana, a 100-unit luxury rental community in Wilmette, Ill., on Chicago’s North Shore. The Class A+ mixed-use property was completed in 2023 and is fully leased.
The fixed-rate, interest-only financing was provided by Freddie Mac and arranged by a Walker & Dunlop Capital Markets Real Estate Finance team.
The Walker & Dunlop team was led by Dave Hendrickson, senior managing director of Capital Markets Real Estate Finance, Pat Modig, managing director of capital markets, managing directors of capital markets and co-heads of equity & structured finance Jonathan Paine and Mo Beler alongside Will Crittenberger, director of capital markets and Philippe LaPointe, a capital markets analyst.
Optima’s opus
Optima Verdana is located at 1210 Central Ave. in downtown Wilmette, one of the most supply-constrained communities on Chicago’s North Shore. The six-story building is situated directly across from the Wilmette Metro train station and near Lake Michigan. Residents have walking access to retail, dining, parks, schools and quick connectivity to downtown Chicago and major employment centers.
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The community has a mix of one-, two- and three-bedroom floorplans averaging 1,499 square feet. Rents range from $3,018 to $10,143 with an average of $6,665, Yardi Matrix data shows.
The residences have floor-to-ceiling windows, stainless steel appliances, granite or quartz countertops, vinyl plank flooring, in-unit washers and dryers and smart home technology. There are private balconies or patios in select units.
Community amenities include a rooftop sky deck, glass-enclosed swimming pool, fitness and wellness facilities, a business center, tennis/pickleball courts, a basketball court and a children’s playroom. Services include on-site housekeeping, pet care and package delivery. The community also has an underground parking garage with 173 spaces and electric charging stations.
Optima Verdana also has approximately 8,000 square feet of ground-floor retail space, including Egg Harbor Café, which opened in summer 2025, according to Patch.com. The restaurant also has a location in Optima Signature, the firm’s 57-story, 490-unit luxury project in Chicago’s Streeterville neighborhood.
An ongoing expansion
For its ongoing pipeline, the firm is also constructing Optima Lumina, a six-story, 133-unit luxury condominium project just north of Optima Verdana on the site of a former car dealership. Sales are expected to start later this spring, with groundbreaking slated for later in the year.
When it comes online, the building will feature one- to three-bedroom residences. Optima Lumina will also have ground-floor retail, including space for an existing Starbucks on the property, Chicago Yimby reported.
Optima is also active in Arizona. In May 2025, the firm launched sales for the first condominium tower at Optima McDowell Mountain, a $1 billion luxury mixed-use project in North Scottsdale, Ariz. The project is part of the development’s first phase and is expected to come online in the summer of next year. In total, there will be 1,330 rental and condominium units as well as 36,000 square feet of retail and restaurant space in the development.
Optima has also developed multiple luxury projects in the Phoenix metro, including Optima Kierland, a master-planned four-tower project with a mix of rental and condominium units located about 30 miles from downtown Phoenix. The final tower, 7190 Optima Kierland, was completed in 2023.
