NORTHMARQ ARRANGES $20M LOAN FOR WEBSTER SQUARE

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CHICAGO— NorthMarq has arranged a $20 million construction loan for Webster Square, a mixed-use development located at 558 W. Webster Ave. in Chicago. Webster Square is the redevelopment of a medical office building into 75 market-rate apartments, along with 16,000 square feet of ground-floor commercial space located in Lincoln Park. Sue Blumberg and Rup Patel of NorthMarq’s Chicago office arranged the financing for Sandz Development. The three-year loan includes two one-year extensions.

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