HFF Secures $125M Financing for Chicago Residential Tower
- Jan 19, 2017
Chicago—HFF recently announced that a $125 million loan was secured for Eugenie Terrace, a 44-story, 575-unit residential tower located at 1730 N. Clark St. in Chicago’s Lincoln Park neighborhood.
HFF placed the 10-year fixed-rate loan on behalf of Eugenie Terrace Associates LLC. The HFF debt placement team representing the borrower was led by managing director Matthew Schoenfeldt and senior managing director Mike Kavanau. This loan replaces existing fixed-rate financing that HFF secured on the borrower’s behalf in 2007.
Eugenie Terrace is situated adjacent to Chicago’s 1,200-acre Lincoln Park and features controlled access, a fitness center, business center, swimming pool, as well as a total of 210 parking spots. The building is located within easy reach of several points of interest, including the Lakefront Trail, Lincoln Park Zoo and the Chicago History Museum. Additionally, Eugenie Terrace offers convenient access to public transportation and abundant retail, dining and recreation options.
According to Yardi Matrix data, the property was almost 100 percent occupied as of December 2016.
Image courtesy of Yardi Matrix