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Large Apartment Filler Breaks Ground at Madison & Racine

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Curbed commenter Mohammed Wong said it "looks like a Barnes & Noble" while others let out their own distress calls. In other words, the masses aren't swooning over the 216-unit, nine-story building coming to the corner of Madison & Racine. But in terms of urbanity and the economic recovery, the development earns respect. In any case, the hour of public input is over as Ascend Real Estate and Team4 Development have just broken ground without a construction loan in hand ($42M is sought). Ascend CEO Walter Rebenson tells Crain's that multiple lenders are competing to finance the project, so there's little to fret over. The building, designed by FitzGerald Associates Architects, will include 10,000 square feet of retail space, a roof deck, and 227 parking spots. Things get official at today's groundbreaking ceremony, and the building should finish up in late 2014. Oh, and the developers would like you to start addressing it as "The Madison at Racine".
·Developers start 216-unit apartment building in West Loop [Crain's]
·Modest Changes Come To Madison & Racine Apartment Project [Curbed Chicago]