CHICAGO — Tree Street Group, along with development partners Magellan Development Group and Mark Goodman & Associates, has closed on an undisclosed amount of construction financing obtained through Bank OZK, Beach Point Capital and Circle Property Partners for 410 N. Elizabeth, a 33-story high-rise in Chicago’s Fulton Market neighborhood. It will be the first phase of a two-tower, mixed-use development. 410 N. Elizabeth will include 383 units, with 77 apartments set aside as affordable. Rent restrictions were not disclosed.
Upon completion of both phases, the development will comprise about 724 total units, with 146 earmarked as affordable. The all-electric, geothermal design will reduce energy usage by 60 percent, according to the development team. Archeo Design Studio is serving as the architect. Clark Construction Group is the project’s general contractor, and Integra-X-Builders will be providing construction management services. A construction timeline was not disclosed.