loader image

Moceri + Roszak secures $71M construction loan for Loop office tower

Thomas Roszak and renderings of 145 South Wells Street and the JeffJack apartment complex (Credit: Thomas Roszak Architecture)

Moceri + Roszak secured a $71.4 million construction loan for the office tower it’s building in the Loop, a shift in focus for the multifamily developer.

Financing for the 20-story building comes from the Multi-Employer Property Trust, which is made up of 345 pension plans and is managed by Bethesda, Maryland-based NewTower Trust Company.

Chicago-based Moceri + Roszak landed a construction permit six months ago for foundation work on the building, at 145 South Wells Street, and work began last week.

The developer is a partnership of Convergint Technologies co-founder Dan Moceri, along with Michael Moceri and Thomas Roszak of Thomas Roszak Architecture, which is designing the building.

The high-rise, being built on spec, will have ground-floor retail and 24 parking spaces. It is being constructed on the site of a now-demolished four-story parking garage along the L tracks.

Moceri + Roszak bought the property in November 2016 for $7.1 million.

Among its other projects is the JeffJack apartment complex at 601 West Jackson Boulevard and the 33-story Linea apartment tower at 215 West Lake Street.

The Multi-Employer Property Trust has 100 investments worth more than $6.5 billion across the United States. Seattle-based Bentall Kennedy serves as its real estate investment adviser and investor relations provider.

Recommend0 recommendationsPublished in Real Estate

Share this story with your network.

Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on print


Recent Stories

Del Marie: locked down, but not out

The rapper-dancer-performance poet rolls with the pandemic punches. 2020 started off so well. January and February were great months for 27-year-old rapper, dancer, and performance

Read More »

Speak with a local expert now.

Learn more about this recent happening by speaking with an agent.