Notification of sale of City of Chicago Multi-Family Tax-Exempt Bonds (Fannie Mae MBS-Secured) (SACRED Apartments) Series 2025A and Multi-Family Housing Revenue Bonds (SACRED Apartments) Series 2025B
The City of Chicago, under Mayor Brandon Johnson, has sold Multifamily Tax-Exempt Bonds and Multifamily Housing Revenue Bonds worth $23,200,000 for the SACRED Apartments project. Stifel, Nicolaus & Company, Incorporated served as the Underwriter. The bonds, issued in $5,000 denominations, will finance the construction of the apartments and cover issuance costs. The Bond Purchase Agreement, dated March 26, 2025, involves the City of Chicago, Cook County, Illinois, and SACRED Apartments Owner LLC. The purchase contract details the sale of the bonds, with the Underwriter agreeing to purchase them at a specified price. The closing for the purchase will take place on April 3, 2025. The Issuer and Borrower have agreed to ensure the accuracy of the information in the Official Statement and to disclose any material changes during the Update Period.