1000 South Clark

Property type: Infill/Mixed Use
Business line: Land & Development
Location: Chicago, IL

1000 South Clark
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This 2.5 acre site in Chicago’s South Loop had been slated to become luxury condos, but we saw it as better suited for premium rentals. When iStar took ownership, we had the land and capital, but needed a local builder’s vision and “know-how.” JDL had the local experience, expertise and complementary ideas but needed a flexible capital solution. Most importantly, we were on the same page from day one—quickly structuring a mutually beneficial joint venture, with iStar as both equity investor and lender. As the 29-story tower has risen, our knowledge of both the local market and our partner’s capabilities has grown, furthering the potential for additional partnerships.