CHICAGO — Associated Bank has provided a $17 million construction loan for a new mixed-use development at 2501 W. Armitage Ave. in Logan Square. The developer is a partnership between Mario Greco and Dimitri Nassis of Spearhead Properties LLC and Chris Fifield of Fifield Construction and Realty Inc. Michael McGovern of Associated Bank’s commercial real estate division originated the loan. The LEED-certified development will include two buildings comprised of 78 apartments and 6,500 square feet of retail space along Armitage. The project will feature a private courtyard and large landscaped second-floor terraces. Eight affordable units will be made available. Once completed, the new apartments will offer tenants sleek modern finishes and an amenity package that includes an automated package room, high-speed fiber Internet service, a workout area, 55 parking spaces, bicycle parking and a 1,300-square-foot amenity space overlooking a 6,000-square-foot landscaped courtyard. Demolition is scheduled to start in early August and construction will begin soon after.
The mixed-use development at 2501 W. Armitage Ave. in Chicago will include 78 apartments and 6,500 square feet of retail.
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