"Corus aided in saving the borrower several million dollars on the land acquisition by quickly providing a second mortgage loan to bridge the gap between the first mortgage lender and the borrower's equity," says Corus Bank senior vice president Terence W. Keenan. "Corus is confident The Fordham Co. 's extensive knowledge and experience in the Chicago luxury condominium market will help make The Pinnacle project a resounding success."
Units at 65 E. Goethe St., a $100-million project repeatedly downsized during the planning process, are selling at about $1,000 per sf. The architect there is Lucien Lagrange, also designing The Pinnacle, where Carley has promised "five-star hotel" amenities such as maid and car services, use of a wine cellar, a private theatre, health club and "pocket offices" in units as well as sitting rooms off master bedrooms.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
