Finance N Illinois

Associated Bank arranges $66.85M loan for Lincolnshire luxury apartments

Associated Bank acted as the lead arranger and administrative agent for a syndicated construction loan in the amount of $66.85 million for SMASH Residential Chicago, an affiliate of ECD Company.

The project, 444 Social, is located at 444 Parkway Drive in Lincolnshire, Illinois. It will be a Class A, 302-unit multifamily luxury apartment building. The property will have 127 one-bedroom, 126 two-bedroom and 15 three-bedroom units. Leasing is expected to begin in the fall of 2018 with completion expected by spring of 2019.

Associated Bank provided $20 million of the loan package. Krista Casper, senior vice president in the CRE division of Associated Bank, originated the loan.