BMO Financial Group Provides $19.4M Loan For Development Site In Woodlawn, Chicago

Park Station Lofts, located at East 63rd Street & South Blackstone Avenue in Woodlawn, Chicago, has recently secured a loan of $19,400,000. The development site, known for its prime location in the Woodlawn market, is owned by Michaels Development Company and DL3 Realty Advisors. The loan was provided by BMO Financial Group, a reputable lending institution in the real estate industry. This financial support will aid in the further development of the property and its surrounding area.

Summary of transaction details:

• Property Type: Development Site
• Loan Amount: $19,400,000
• Lender: BMO Financial Group
• Landlord: Michaels Development Company - Greg Olson; DL3 Realty Advisors

Susan Moro from Berkadia represented the parties involved in this transaction as the broker. With her expertise in the real estate market, she played a vital role in facilitating the deal. This collaboration between the different stakeholders will contribute to the growth and development of the Woodlawn neighborhood in Chicago.