Safehold Announces Expansion Into The Chicago Market

The Transaction Recently Closed On This Class A Multifamily Building
Safehold Announces Expansion Into Chicago Market
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Safehold Inc. announced its expansion into the Chicago market, offering its Safehold ground lease to facilitate the recapitalization of 1000 South Clark, Chicago, IL.

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“We are excited to begin offering the Chicago MSA a better, more efficient way to capitalize its real estate,” said Tim Doherty, Head of Investments in a statement. “The ground lease capital provided to our new customer, JDL Development, allowed them to acquire full ownership of the building while securing the lowest cost capital available in the market.”

1000 South Clark is a 29-story building comprised of 469 units and 43,000 square feet of amenity space including a fitness center, golf simulator, basketball court, racquetball court, outdoor track, indoor/outdoor pool, and dog daycare center. The property is located near the Central Loop, the CTA’s Roosevelt Station, and the Roosevelt Collection Shops.

Safehold Inc. provides a way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of quality multifamily, office, industrial, hospitality and mixed-use properties generate higher returns with less risk.

Lisa Hay

Lisa is a staff reporter for What Now Media Group. She covers new restaurant, retail, and real estate openings across all of our markets. A true foodie, this Air Force veteran has lived all over the world — from Aviano, Italy to Nairobi, Kenya — but her favorite spot is NOLA for its rich history, architecture, culture, and of course, its good eats.
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