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Intercontinental Real Estate to join Chicago project by providing $62M equity

Intercontinental Real Estate Corp. is giving $61.9 million of equity to become part of LendLease Group and John Buck Co.'s joint venture development at 845 W. Madison St. in Chicago, The Real Deal reported, citing HFF.

Work on the 586-unit West Loop luxury apartment project began in November 2018 and is expected to be completed in the summer of 2020.

The complex will include two 17-story towers, offering a total of about 720,000 square feet of residential space, 10,000 square feet of ground-floor retail area and a 278-space parking garage, the Jan. 7 report added.

An HFF team arranged the equity investment, the publication reported.