JLL Secures $124.6M Refinancing for LG Development Group's Arthur on Aberdeen Tower in Chicago's Fulton Market
CHICAGO — July 8, 2026 — JLL has arranged a $124.6 million refinancing for Arthur on Aberdeen, a 363-unit luxury residential tower in Chicago's Fulton Market neighborhood, the firm announced Tuesday. Pacific Life provided the three-year, floating-rate loan, with JLL representing the borrower, LG Development Group LLC.
Deal Structure and Property Overview
The property, located at 210 N. Aberdeen St., is an 18-story multifamily tower that delivered in 2024 and reached 92% occupancy during its lease-up phase, absorbing approximately 20 units per month, according to JLL. The building also includes approximately 10,000 square feet of fully leased ground-floor retail space.
JLL Capital Markets' Debt Advisory team representing LG Development Group LLC was led by Senior Managing Director Danny Kaufman, Director Medina Spiodic, Vice President Rebecca Mitchell, Senior Analyst Merrick Evans and Analyst Annie Thomas.
"Arthur on Aberdeen exemplifies the caliber of institutional-quality development that continues to thrive in Chicago's supply-constrained urban core," Kaufman said in a statement. "The property's rapid lease-up, strong lease trade outs and accretive tax structure demonstrate why trophy assets in irreplaceable locations like Fulton Market command lender confidence."
Amenities and Asset Positioning
Arthur on Aberdeen features a resort-style rooftop pool and spa with unobstructed skyline views, a fitness center spanning over 2,000 square feet — which JLL describes as the largest in the West Loop — along with a podcasting studio and co-working spaces.
Affordability Structure and Tax Advantages
Arthur on Aberdeen participates in Chicago's 2021 Affordable Requirements Ordinance program, which provides a 30-year tax abatement schedule in exchange for maintaining 20% of units as affordable at 60% of area median income. JLL noted that this structure generates significant cash flow advantages for the property.
West Loop and Chicago Urban Core Market Context
The refinancing comes against a backdrop of strong multifamily fundamentals in Chicago's urban core. According to JLL, the market has recorded 6.5% effective rent growth year-over-year and occupancy rates of 97%, while forecasted new supply deliveries are expected to remain below 1% of existing stock over the next 12 months.
The West Loop submarket, which encompasses Fulton Market, has experienced approximately 80% population growth since 2010, with average home values reaching $680,000 and a resident base in which 88.93% hold bachelor's degrees or higher, per JLL's data.
The transaction adds to a series of large multifamily financings JLL Capital Markets has arranged in Chicago in recent years, including a $113.75 million agency loan for K2 Apartments, a 496-unit high-rise in the city, and a $25.22 million refinancing for Chateau on Wells in the River North neighborhood.
JLL Capital Markets operates as a global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries.