Cohen Financial Secures $20.7M Construction Loan for Apartment Property in Chicago

CHICAGO — Cohen Financial, a division of SunTrust Bank, has secured a $20.7 million loan for the construction of a 138-unit apartment property in Chicago’s Logan Square neighborhood. The $36 million development will also feature 9,300 square feet of retail space. The urban infill project is close to transportation, restaurants and other lifestyle amenities. Michael Hart of Cohen Financial arranged the loan with Old Plank Trail Community Bank, a subsidiary of Chicago-based Wintrust. Savoy Development LLC is the project developer.