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Several attorneys from Jenner & Block’s Real Estate Practice recently aided pro bono client Breakthrough Urban Ministries in closing a $2.5 million construction financing for a new center to help Chicago’s homeless and unemployed.
Breakthrough Urban Ministries provides overnight transitional housing and programs for the homeless and unemployed at several facilities on Chicago’s north and west sides. In 2004, the organization purchased a dilapidated 25,000 square foot facility with plans to convert the space into a ministry center for its men’s program and administrative offices.
The new building will allow the organization to provide on-site job education training, on-site health care and job retention services, among other things. Construction will be completed on the facility in August 2007.
After acquiring the property, the non-profit led a successful capital campaign to raise funds and financial support commitments to rehabilitate the building. LaSalle Bank provided construction financing to Breakthrough Ministries. The Jenner & Block team served as borrower’s counsel for the construction financing, documented the transaction and helped to complete the deal.
The Jenner & Block team on this matter included Partners Donald S. Horvath and Michelle M. McAtee, and Associate Vito M. Pacione.
Partner Terrence J. Truax serves as Chair of Breakthrough Urban Ministries’ Board of Directors.