First Completed Financing Covered in Chicago Sun Times: Reserve Hotel

Luxury hotel on La Salle to get $21M in city-backed financing to save energy

December 4, 2019

Luxury hotel on La Salle to get $21M in city-backed financing to save energy

The new PACE program’s first loan will go to the $118 million Reserve hotel project

December 3, 2019 article by David Roeder in the Chicago Sun Times previewed here: 

A $118 million project to put a luxury hotel in a landmark building on La Salle Street has become the first development to get city-backed financing under a new program that supports energy conservation.

Developers of the Reserve hotel at 208 S. La Salle St. have qualified for $21.25 million in financing for energy-related work designed to lower costs over time. The money will be repaid from future property tax bills that apply to the building...

To continue reading this article at The Chicago Sun Times, click here

MORE NEWS