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Loan Sets Stage for Next Round of the Shops on Fremont

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It's not enough that CRM Properties built one of the largest Whole Foods on earth. When you've got 2.5 acres of adjacent Clybourn Corridor parcels waiting to be developed, there's a lot more money to be made. The multi-parcel Shops on Fremont plan should eventually fill in all of CRM's holdings surrounding Weed, Fremont, North and Kingsbury streets, and a couple chunks are now set to break ground in a month's time thanks to a newly secured construction loan. Crain's is reporting that CRM landed a $19M bank loan last month, and that retailers Anthropologie and Williams-Sonoma have inked their names to a lease in a to-be-built 15,000-square-foot building at North and Fremont. Designated Site A in CRM's promotional materials, this represents a small fraction of the intended 125,000 to 180,000 square feet of retail space across all four sites. The loan will also permit the relocation of the Off-Track Betting venue at 901 W Weed Street in order to free up another 50,000-square-feet of development. Our cameras are at the ready for when it all gets rolling.
·Loan to spur more Clybourn Corridor development [Crain's]
·Official Site: CRM Properties
·Shops on Fremont Coverage [Curbed Chicago]