Chicago-based builder The Jacobs Company announced its partnership with RealtyShares, a marketplace for real estate investing, to finance a multi-family project through crowdfunding. The funds will help with a multifamily project in Deerfield.
The project, Taylor Junction, will add nine two- and three-story townhomes in the heart of downtown, an area that is in high demand. Located at 800 Chestnut St., the townhomes are expected to range in size from 2,200 square feet to 2,585 square feet.
“We were excited to place Taylor Junction on the RealtyShares platform because we believe passionately in the project and knew the public would, as well,” said Keith Jacobs, president and CEO of The Jacobs Companies, in a statement.
“The Jacobs Companies always has an eye on ‘what’s next.’ This new approach to real estate investment is perfectly aligned with how we have evolved in the 80 years it has been in business.”
The fundraising began on RealtyShares’ platform June 18, and in 18 days the development was fully funded. On July 6, the limit of $1.086 million was reached by the site’s network of accredited investors.
The Jacobs Company is influential in the local market, with its 80th anniversary being this year. The development company has completed 44 developments and more than 6,000 custom homes.
