Associated Bank Provides $7.6M Construction Loan for Chicago Apartment Building

CHICAGO — Associated Bank has provided a $7.6 million construction loan for a five-story, 40-unit apartment building located at 4725 N. Clifton Ave. in Chicago. CEDARst Cos. is developing the transit-oriented project, which is named Clifton Uptown. Located in the heart of the Uptown Square Historic District, the property will feature 12 studio units, 28 one-bedroom units and 1,839 square feet of ground-floor retail space. The site is adjacent to the CTA Red Line Lawrence Station that is in the final stages of a $2.1 billion Red and Purple Line modernization project. Daniel Barrins of Associated Bank managed the loan arrangements and closing.