310 West Huron: $44.1M construction financing secured for luxury multifamily development in Chicago's River North

CHICAGO, Feb. 18, 2026 –  JLL Capital Markets announced today that it has arranged $38.1 million senior construction financing and $6.0 million in preferred equity for 310 West Huron, a 149-unit luxury multifamily development project in Chicago, Illinois.

JLL worked on behalf of the borrower, a joint venture between Third Coast Real Estate and ZSD, in securing the three-year construction facility through CIBC and preferred equity investment from N3 Capital Management.

The project is located at 310 W. Huron St. in Chicago's River North neighborhood, one block from the Chicago Avenue CTA “L” train station. The area provides access to major employment centers including River Point, Salesforce Tower and the Merchandise Mart, which house more than 26,000 employees. Residents will have walking access to dining and entertainment districts along Wells, Hubbard and Kinzie streets, as well as both Fulton Market and the Gold Coast.

Chicago's urban core continues to demonstrate strong fundamentals with consistent population and income growth supporting elevated occupancy and compound annual rent growth exceeding 4% since 2020. The neighborhood attracts educated residents with an average household income of $191,000 within a half-mile radius, with 88.5% holding bachelor's degrees and 92.5% working in white-collar jobs.

The nine-story, +/-134,000-square-foot building will feature studios, one- and two-bedroom apartments, including 11 two-story units with private patios. Apartments will include quartz countertops, stainless steel appliances, in-unit washers and dryers and wood-style flooring. Amenities include a rooftop lounge with fitness center, co-working space, ground-floor coffee bar and outdoor deck with grills. The project includes +/-3,700 square feet of ground-floor retail space and 21 parking spaces. Construction has already commenced, with completion expected in March 2027.

The development partnership between ZSD and Third Coast Real Estate represents more than 60 years of combined real estate experience. The companies have developed more than $375 million in residential real estate and secured more than $3 billion in financing.

“We’re incredibly excited to move forward with 310 West Huron and deliver a truly boutique luxury experience in the heart of River North,” commented Reed Edwards from Third Coast. “With so few new multifamily projects breaking ground in the current environment and the continued strength of Chicago’s multifamily fundamentals, we believe the project’s March 2027 delivery is exceptionally well timed. We’re grateful for the confidence and partnership of our capital providers in helping bring this development to market.”

JLL Capital Market’s Debt Advisory team was led by Managing Director Christopher Knight, Director Mary Dooley and Analyst Ryan Planek.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Third Coast Real Estate is a Chicago‑based multifamily development and investment firm specializing in midsize multifamily projects in the city’s most dynamic neighborhoods. Built on a foundation of disciplined underwriting, transparent processes and long‑term relationship building, the firm focuses on delivering efficient, design‑forward residential communities that create lasting value for investors, partners and residents. Third Coast’s leadership brings deep Chicago expertise and a track record of successfully executing projects across the city’s most promising corridors.

ZSD was created with the goal to create architecturally-significant and contemporary-designed properties across the Chicago’s neighborhoods. ZSD has completed 26 projects across Chicago and has developed and sold real estate in excess of $375MM in value. In 2020, ZSD built out a construction arm to enhance control over quality, timelines and costs. ZSD is now expanding into larger scale mixed-use development with 310 W Huron and West End Club, a boutique 22-unit apartment complex in West Loop.