May 26, 2005 Multi-Housing News Planned 68-Story Chicago Condo Receives Mezz Financing MAY 26, 2005 -- Chicago -- JER Partners is providing mezzanine financing for the acquisition and development of 340 East Randolph St., a to-be-developed condominium tower here. The preliminary development plan for the project, which is being referred to as "340 on the Park," calls for a 68-story, 344-unit residential tower, with approximately 4,000 square feet of retail space and a 468-car parking garage. The building will include a variety of luxury one-, two-, three-bedroom and penthouse floorplans--and will be Chicago's first residential tower to achieve The U.S. Green Building Council's LEED Certification for sustainable development. JER joins LR Development Co., Magellan Development Co., Near North Properties and LaSalle Bank as stakeholders in the property. "The property is ideally located adjacent to Chicago's Grant and Millennium Parks, close to Michigan Avenue and Lake Michigan," said Cia Buckley, senior managing director of North American Investments at JER. "The property is one of the most prominent development sites in the emerging Lakeshore East neighborhood."