CEDARst Cos. has secured an $81.7 million Fannie Mae loan to refinance The Draper, a 342-unit apartment complex in Chicago's Uptown neighborhood.

The 260 units, all studios and one-bedrooms, are positioned as a lower-priced alternative to the increasingly luxury-priced housing options in the neighborhood.

A Chicago developer paid more than $21 million this week for a pair of warehouses that will become part of a historic rehab project in the North Loop neighborhood of Minneapolis.

A vintage office building just steps from the buzz of State Street has been transformed into 176 chic urban apartments.

A vintage office building just steps from the buzz of State Street has been transformed into 176 chic urban apartments in the River North neighborhood.

A Chicago apartment developer has broken ground on a $65 million project just north of Pilsen, using a financing tool that’s popular in other big cities but has yet to catch on here.

The two-year transformation of Uptown’s former Combined Insurance building into a new striking apartment development known as the Draper is nearly complete.

Apartment dwellers have begun moving in above Miller’s Pub downtown, continuing a makeover of a drab stretch of Wabash Avenue beneath elevated trains.

Time was, looking at brand-new apartment buildings meant managing your expectations. Sure, you might get a bright, fresh apartment with new appliances, a party room and an in-house fitness center.

Some apartment communities are built from the ground up, and others are fashioned from existing structures. The Ardus, which recently opened in River North, is both — but it’s hard to tell by looking.

Cedar Street has scored nearly $75 million in debt financing for a 342-unit office-to-apartments conversion in Uptown, one of several multifamily projects in the Chicago developer’s construction pipeline.