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MORTON GROVE, ILL. — Pearlmark has provided a $7.4 million mezzanine debt investment for the recapitalization of The Residences at Sawmill Station, a 250-unit apartment complex in the Chicago suburb of Morton Grove. Pearlmark Mezzanine Realty Partners V LP originated and structured the investment. Wintrust Bank provided the senior loan, extending its existing loan on the property. UrbanStreet Group is the owner and developer. The Residences at Sawmill Station is part of a 26-acre mixed-use development that includes a 240,000-square-foot lifestyle center. Amenities include a pool, fitness center, coworking offices, a resident lounge, dog spa, pet park and covered garage. Mark Witt of Pearlmark arranged the transaction.