South Side Chicago’s Hottest Commercial Real Estate Deal Uses Historic Tax Credits To Reduce Capital Costs

Chicago Development

Trained as an architect and armed with an MBA from Cornell’s S.C. Johnson School of Management, Ryan Folger cut his teeth in Chicago on a project called The Roosevelt Collection. Working as the Director of Construction, he oversaw the development of the 1,200 space three level parking structure, 400,000 square feet of retail space, 342 condos, and the largest cinema in Chicago featuring a cocktail lounge, VIP section, and 16 screens.

When the financial crisis slowed development in Chicago, Mr. Folger took a position as VP of Operations for Altisource Asset Management Corporation which during his tenure acquired a portfolio worth more than $1 billion. In 2016. Folger returned to Chicago and formed Anexis Development to specialize in identifying unique opportunities in underutilized locations while providing increased returns to investors. His latest project, the Federal Street Lofts, is a 64,000 sq ft. loft conversion on the South Side of Chicago a short walk from  McCormick Place. With 12,000 square feet of office space and 24 residential units, the new development presents a tremendous opportunity for Anexis.

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