CHICAGO — Affinius Capital has originated a $130.4 million construction loan to finance 1000 W. Jackson, a 25-story development in Chicago’s West Loop submarket. The developer is a joint venture between Chicago-based Mavrek Development and Toronto-based Fengate Asset Management, a North American alternative investment manager. John Parrett of CBRE arranged the financing. The project will include 21,500 square feet of retail pre-leased to Aldi and 380 apartments, including 76 units set aside as affordable. Rent restrictions were not disclosed.
Floor plans range from studios to three-bedroom units complemented by amenities such as a pool, hot tub, cabanas, a half-court basketball court, pickleball court, grills, a dog park, fitness center, lounge, coworking space, game room, 24-hour concierge, bike storage and attached indoor parking. Completion is slated for 2028.