Ricker-Murphy Development LLC and Lake Tower Development LLC, a GE Pension Trust affiliate, announced Monday that they had secured a $170 million construction loan needed to complete the long-delayed Lincoln Park 2520 high-rise.

The development, on the site of the shuttered Columbus Hospital, opened a sales office and began selling units in early 2007 as the credit markets were collapsing. Thirteen months ago, the size of the Lucien Lagrange Architects-designed tower was trimmed, to 198 condos in 33 stories, from 292 units in 41. However, Ricker-Murphy said Monday it received approval for 229 residences in three connected towers — a 22-story north tower, a 39-story central story and a 16-story south tower. The condos  will sell for $1 million to $5.7 million, excluding penthouses that will be priced at up to $11 million. Get the full story »