Left in limbo after the real estate market cratered, the $260 million New City development near Lincoln Park has crossed two critical thresholds, signing another anchor tenant and landing a $182 million construction loan.
A development venture led by Chicago-based firms Structured Development LLC and Bucksbaum Retail Properties LLC secured the loan commitment from BMO Harris Bank N.A. and Fifth Third Bancorp. in part because they persuaded Dick's Sporting Goods Inc. to lease about 59,000 square feet, said Structured Principal J. Michael Drew.
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