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CHICAGO-According to Berkadia Commercial Mortgage LLC, the proprietor of the Bourbon Square, the 612-unit apartment complex, in Palatine has refinanced the property with a loan of $57 million through the US Department of Housing and Urban Development (HUD).

Naperville-based Marquette Cos., the borrower, had purchased the property situated at 500 E. Constitution Drive in 2006 for $78 million, planning to change the apartments into condos. The new loan will partially replace the existing $75-million loan from the Bank of America. For the full story, go to Crain’s Chicago Business.

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