320 N. Michigan Ave., a 26-story dormitory downtown currently used by Kendall College students. The 119-unit building secures an $18.3-million loan, which replaces a $17-million loan issued in 2003.

Park Ridge-based BJB Partners is downsizing its ambitions for a property next to Millenium Park, opting to put up a three-story commercial building rather than the 41-story tower previously proposed.