CIBC Bank Provides $82M Construction Loan For West Loop Development Site

The development site located at 1101 West Van Buren Street in West Loop, Chicago, was involved in a recent closed transaction. The property, owned by Pizzutti Companies and represented by Joel Pizzutti, was the subject of a loan provided by CIBC Bank.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $82,000,000
• Loan Type: Construction Loan

The loan, provided by CIBC Bank, enabled the development of the property at 1101 West Van Buren Street. The involvement of Pizzutti Companies, led by Joel Pizzutti, as the landlord and property owner, highlights their role in the transaction. This deal signifies the value and potential of the development site in the West Loop market.