Antheus Capital gets $60M loan for 26-story Hyde Park tower

The immediate area has seen a flurry of recent new development

TRD CHICAGO /
May.May 03, 2018 02:00 PM

Rendering of the development (Credit: Solomon Cordwell Buenz)

Antheus Capital has secured a $60 million construction loan from BMO Harris Bank to build a 26-story, 246-unit residential tower at 1600 East 53rd Street in the Hyde Park.

New Jersey-based Antheus in March scored a permit for the building from the city.

The first four levels the development will include parking as well as 10,000 square feet of retail, according to Curbed.

Antheus bought the site, currently a parking lot, for $3.9 million in 2011.

It’s immediately adjacent to a Metra station and a stretch of 53rd Street that has seen major new development activity in recent years, including a 98-room boutique hotel scheduled to open in July.

A spokesperson for BMO Harris confirmed that the loan was issued. Antheus did not responded to requests for comment in time for publication.

Earlier this week the Tribune reported a trust linked to Bill Gates had bought a single-family house in the neighborhood for $1.25 million.


Related Articles

arrow_forward_ios
Joe Sitt and 905 W. Fulton Market (Credit: Thor Equities)

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
Ald. Walter Burnett (27th)

Alderman Burnett to lift ban on resi development in Fulton Market

Alderman Burnett to lift ban on resi development in Fulton Market
Amazon CEO Jeff Bezos with 4306 120th Ave. in Kenosha and 23700 W. Bluff Road in Channahon (Credit: Getty Images; Google Maps)

Amazon is at it again in Chicago

Amazon is at it again in Chicago
John Murphy, head of Murphy Development Group and a rendering of 8000 N. Lincoln Ave. (Credit: Murphy Development; rendering via Lucien Lagrange)

In this market, a good construction loan is hard to find

In this market, a good construction loan is hard to find
Don Thompson and 212 North Canal Street (Credit: Cleveland Avenue, Google Maps)

VC firm led by ex-McDonald’s chief buys River West office building

VC firm led by ex-McDonald’s chief buys River West office building
Founder, President and CEO of Oxford Capital Group John Rutledge with Hotel Felix and Hotel Julian (Credit: Oxford Capital Group, Hotel Felix and Google Maps)

Oxford Capital designates 5 of its Chicago hotels for coronavirus housing program

Oxford Capital designates 5 of its Chicago hotels for coronavirus housing program
The 21c Museum Hotel at 55 E Ontario Street and the Hilton at 720 S. Michigan Avenue (Credit: Google Maps)

More hotels fall victim to coronavirus pandemic

More hotels fall victim to coronavirus pandemic
Gov. J.B. Pritzker (Credit: (Photo by Scott Olson/Getty Images)

As clock ticks on small businesses, Chicago offer loan lifeline

As clock ticks on small businesses, Chicago offer loan lifeline
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...