The Glen Town Center serves as the centerpiece for the larger development known as "The Glen". "The Glen" is a 1,121 acre comprehensive mixed-use development with new single family homes, office, apartments, retail, parking and a championship golf course located in Glenview, Illinois, just north of Chicago.
At the center of "The Glen" is the Glen Town Center. The Glen Town Center features 1,150,000 square feet of retail shops, entertainment venues and restaurants in a pedestrian-friendly residential setting. Navy Park serves at the town square located in the center of the community. Situated on top of the Glen Town Center is a 300-unit apartment community.
Michael Sieman underwrote non-recourse institutional construction and mini-perm financing for the Glen Town Center which included the largest public tax increment financing ("TIF") in the history of the State of Illinois. The debt financing was structured under two loans using a condominium structure to allow for separate underwriting and collateralization of the retail and apartment components.