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Chicago’s Hartman Building Lands $45M Financing

February 16, 2018

The former home of the iconic Miller’s Pub, Chicago’s Hartman Building has landed a $44.7 million HUD loan, which will enable its conversion into a 176-unit multifamily property. Walker & Dunlop arranged the financing through HUD’s 221(d)(4) program, allowing developer Cedar Street Cos. to benefit from savings from the existing historic tax credits. The adaptive reuse project will also be the first mixed-use development to receive HUD’s green mortgage insurance premium. The 40-year loan features interest-only payments during the first two years

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