Construction will soon start on BMO Tower, a 1.5 million sq. ft. office tower next to Union Station, after developers obtained a $476 million construction loan.
John O’Donnell, CEO of Riverside Investment and Development, said in a paid Chicago Tribune post that construction will start once a parking garage at the site is demolished.
O’Donnell said BMO Harris Bank, Bank of America and Citizens Bank funded the loan.
Riverside is developing the 50-story office tower with another Chicago-based developer, Convexity Properties, which is the real estate investment arm of trader Don Wilson’s DRW Holdings, the published report said.