SOLD: Site Of Former New City YMCA, Chicago, IL

CLIENT: PRIVATE REAL ESTATE FUND
A brief receivership by RE|SOLUTIONS of this well-known Chicago site concluded with the developer paying off its loan of $39 million to the lender and relaunching its plans for a commercial and residential complex.  Structured Development, LLC, with an investment from John Bucksbaum, former chairman of General Growth Properties, Inc., and a new loan from JP Morgan Chase Bank, plans to start construction in late 2012 on 370,000 SF of retail space plus 280 apartments on this 8.2 acre piece of land that sits at the intersection of Clybourn and Halsted Avenues.

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