Developer lands financing for One Winnetka project
A Chicago developer has landed financing for a project to transform a long-fallow downtown Winnetka site with luxury rentals and retail.
The team behind One Winnetka, a joint venture of Murphy Development Group and Harrison Street CEO Christopher Merrill, has closed on a construction loan from Acres Capital for the development, which will include 59 luxury apartments and more than 20,000 square feet of retail space, according to an announcement. The amount of the loan is $66 million, and the total project cost is $89 million, according to people familiar with the deal.