Illinois Housing Development to sell $53.05 million revenue bonds

By Cristal Cody

Tupelo, Miss., Dec. 9 - The Illinois Housing Development Authority intends to sell $53.05 million of multifamily housing revenue bonds for Randolph Tower City Apartments, according to a preliminary official statement.

The bonds (/AAA/) have serial maturities from 2014 through 2022 and a term bond due 2028.

Citigroup Global Markets Inc. will manage the negotiated sale.

Proceeds will be used to renovate a 45-story historic official building in the Chicago Central Business District and convert it into apartments.

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