{"id":1004040269,"date":"2012-05-22T20:54:50","date_gmt":"2012-05-23T04:54:50","guid":{"rendered":"https:\/\/test.commercialsearch.com\/news\/?p=1004040269"},"modified":"2022-12-04T17:49:46","modified_gmt":"2022-12-05T01:49:46","slug":"troubled-retail-component-of-downtown-chicago-project-gets-145m-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/troubled-retail-component-of-downtown-chicago-project-gets-145m-loan\/","title":{"rendered":"Troubled Retail Component of Downtown Chicago Project Gets $145M Loan"},"content":{"rendered":"<p><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/featured-in-the-digital-edition\/troubled-retail-component-of-downtown-chicago-project-gets-145m-loan\/attachment\/052212-chicago-roosevelt-collection-300x208\/\" rel=\"attachment wp-att-1004040270\"><img decoding=\"async\" data-attachment-id=\"1004040270\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/troubled-retail-component-of-downtown-chicago-project-gets-145m-loan\/052212-chicago-roosevelt-collection-300x208\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/05\/052212-Chicago-Roosevelt-Collection-300x208.jpeg\" data-orig-size=\"300,208\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"052212-Chicago-Roosevelt-Collection-300&#215;208\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/05\/052212-Chicago-Roosevelt-Collection-300x208.jpeg?w=300\" loading=\"lazy\" class=\"alignright size-full wp-image-1004040270\" title=\"052212-Chicago-Roosevelt-Collection-300x208\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/05\/052212-Chicago-Roosevelt-Collection.jpeg\" alt=\"\" width=\"300\" height=\"208\" \/><\/a>Canyon\u2010Johnson Urban Funds and McCaffery Interests, the owners of the Roosevelt Collection in Chicago\u2019s South Loop, have closed on a senior loan, being reported as $145 million, with Prime Finance to reposition the mixed-use development\u2019s 400,000-square-foot retail portion.<\/p>\n<p>Although the Roosevelt Collection\u2019s 342 residential units reportedly are more than 90 percent occupied, the retail side has been moribund, its only current tenant a movie theater. The development also includes a 1,500-space parking garage and land for a public park. The owners have also secured approvals to construct another residential tower on the site at Wells Street and Roosevelt Road.<\/p>\n<p>The $350 million transit-oriented project \u2014 located near the Roosevelt stop on the Chicago Transit Authority\u2019s Green, Red and Orange lines \u2014 started to run into trouble not long after ground was broken by Chicago\u2019s Centrum Properties in the boom year of 2007. Unable to cover its construction loan, the developer sold the property to its current owners in June 2011 for a figure reported as between $160 million and $175 million.<\/p>\n<p>Demolition of the project\u2019s interior shop space is complete, and construction has begun on a new public plaza that will included landscaped areas, water features and children\u2019s play areas. The improvements are scheduled for completion by the end of the summer, at which time the CJUF\/McCaffery venture hopes to have the project 65 percent leased.<\/p>\n<p>Just who those retailers will be has been a hot topic of speculation in the yuppified South Loop. A local blog reported recently, based on a reported accidental leak in a McCaffery promotional piece, that the possibilities, if not actual signed tenants, include H&amp;M, Ulta, Ann Taylor, Lululemon, Aveda, Bath &amp; Body Works, Anthropologie, Sports Authority, Lettuce Entertain You, The Limited, Victoria\u2019s Secret, Joseph A. Bank, Vapiano, White House Black Market, ZGallerie, Republic of Couture and Arhaus.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canyon\u2010Johnson Urban Funds and McCaffery Interests, the owners of the Roosevelt Collection in Chicago\u2019s South Loop, have closed on a senior loan reported to be $145 million.<\/p>\n","protected":false},"author":1201,"featured_media":1004040270,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1004040269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Troubled Retail Component of Downtown Chicago Project Gets $145M Loan - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/troubled-retail-component-of-downtown-chicago-project-gets-145m-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Troubled Retail Component of Downtown Chicago Project Gets $145M Loan\" \/>\n<meta property=\"og:description\" content=\"Canyon\u2010Johnson Urban Funds and McCaffery Interests, the owners of the Roosevelt Collection in Chicago\u2019s South Loop, have closed on a senior loan reported to be $145 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/troubled-retail-component-of-downtown-chicago-project-gets-145m-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-05-23T04:54:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T01:49:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/05\/052212-Chicago-Roosevelt-Collection-300x208.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"208\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/troubled-retail-component-of-downtown-chicago-project-gets-145m-loan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/troubled-retail-component-of-downtown-chicago-project-gets-145m-loan\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"Troubled Retail Component of Downtown Chicago Project Gets $145M Loan\",\"datePublished\":\"2012-05-23T04:54:50+00:00\",\"dateModified\":\"2022-12-05T01:49:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/troubled-retail-component-of-downtown-chicago-project-gets-145m-loan\\\/\"},\"wordCount\":314,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/troubled-retail-component-of-downtown-chicago-project-gets-145m-loan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/05\\\/052212-Chicago-Roosevelt-Collection-300x208.jpeg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/troubled-retail-component-of-downtown-chicago-project-gets-145m-loan\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/troubled-retail-component-of-downtown-chicago-project-gets-145m-loan\\\/\",\"name\":\"Troubled Retail Component of Downtown Chicago Project Gets $145M Loan - 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