Square Mile Originates $15.2M Mezzanine Loan for Multifamily and Office Development in Chicago

CHICAGO — Square Mile Capital Management LLC has originated a $15.2 million mezzanine loan secured by a mixed-use project to be developed by Russland Capital Group-South Loop LLC. Located at 1411 S. Michigan Ave. in Chicago’s South Loop, the property will consist of a 15-story building comprising 199 apartment units and 43,148 square feet of commercial space upon completion. Rush University Medical Center will lease approximately 41,500 square feet of office space. Russland Capital Group has teamed up with LendLease and Boarman Kroos Vogel Group to develop the project. Michael Lavipour of Square Mile originated the loan.