PNC Bank Lends $51.3 Million for South Loop Apartment Tower

PNC Bank is providing the $51.3 million construction loan for construction of a $70 million, 26 story, 320 unit apartment building at 1136 Douth Wabash in the South Loop neighborhood. PNC says it is comfortable making the loan after the developer paid off a $70 million construction loan earlier this year on the 351 unit Arkadia Tower apartment complex in Greektown. The Wabash project is being built by Lendlease.