Wolf Point West refinancing: $141.8M secured for Chicago's premier riverfront luxury tower

CHICAGO, March 18, 2026 –   JLL Capital Markets announced today that it has arranged a $141.817 million refinancing for Wolf Point West, a best-in-class luxury multifamily property in Chicago's River North neighborhood.

JLL represented the borrower, Hines, in partnership with an institutional equity partner, Magellan Development Group and the Joseph P. Kennedy Enterprises, in securing the three-year, floating-rate loan through New York Life.

Wolf Point West, located at 343 W Wolf Point Plaza, sits on the Wolf Point peninsula at the confluence of the three branches of the Chicago River. The property enjoys Chicago's most desirable location with immediate pedestrian access to the Hubbard and Kinzie Street entertainment and retail corridors. The site offers unparalleled connectivity to Chicago's premier business districts, with over 25,000 jobs in its immediate vicinity, including the newly completed Salesforce Tower Chicago next door.

Chicago continues to lead the nation in multifamily performance, with 4.2% annual rent growth compared to the national average of 0.4%. The city has been ranked as the top metropolitan area for corporate relocation and expansion by Site Selection Magazine for nine consecutive years, driven by companies seeking access to the city's deep talent pool and rich amenity base.

Wolf Point West, delivered in 2016, is a striking 48-story residential tower offering 509 luxury rental units across 379,264 square feet. This LEED Silver-certified building features breathtaking views of the city, masterful architecture by bKL Architecture and meticulously designed interiors with top-of-market amenity spaces. Units feature open floor plans with floor-to-ceiling windows, stainless steel appliances, best-in-class fixtures and finishes and large glass-paneled balconies. Amenities include a 24-hour door staff, outdoor pool with expansive sundeck and dining terrace, state-of-the-art fitness center, game room with golf simulator, river gallery, business center, bicycle storage with bike wash and workshop and indoor-outdoor dog lounge.

JLL Capital Market’s Debt Advisory team was led by Senior Managing Director Danny Kaufman, Director Medina Spiodic, Vice President Rebecca Brielmaier and Analyst Youngsoo Yang.

"Wolf Point West represents a once-in-a-generation asset that celebrates the river's enduring significance to Chicago," said Kaufman. "The property's stellar performance, with 97% occupancy and strong rent growth, reflects its position as a premier luxury lifestyle destination in one of the nation's most dynamic markets."

"This property sits within the broader Wolf Point site," added Spiodic, "A truly exceptional development at the confluence of the three branches of the Chicago River that also includes the 697-unit Wolf Point East and the 1.2 million-square-foot Salesforce Tower Chicago."

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.

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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 March 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.