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24 Nov 2021

Tucker Development, AECOM-Canyon Building $155 million Lincolnwood project

Mark Buckshon, Chicago Construction News

Developers have secured construction financing to build a $155 million mixed-use project on the site of the former Purple Hotel in Lincolnwood.

 

Tucker Development, with equity partner AECOM-Canyon Partners, has secured financing and started work on the project that, when completed, will include 299 apartments and an Amazon Fresh grocery store.

Crain’s Chicago Business reports that the development at  Lincoln and Touhey Avenues ends a saga that lasted nearly 15 years, “with redevelopment plans frustrated by multiple lawsuits, bankruptcy and planning snafus.”

Tucker CEO Richard Tucker says Pacific Western Bank, which like AECOM-Canyon is based in Los Angeles, is providing a $101 million construction loan.  Work is expected to wrap up in 2023.

Read more on Chicago Construction News.

 

                                                                                                                                                                                                                                                                                

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