Old National Bank Provides $9.375M Loan For Retail Property In Elmhurst, IL

The retail property located at 559-611 N York Street in Elmhurst, IL has recently undergone a closed transaction. The multi-tenant mixed-use center spans over 74,000 square feet and was acquired by an undisclosed party. The property is owned by Brookline Real Estate and financed through a loan provided by Old National Bank.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $9,375,000
• Market: Elmhurst, IL
• Lender: Old National Bank
• Landlord: Brookline Real Estate
• Broker: Matthew Stearns - Black Bear Capital Partners

The loan provided for the acquisition of the property amounted to $9,375,000. This financing arrangement involves a 5-year fixed rate with interest-only payments. The loan was secured from a balance sheet lender at a leverage of 75%, and it features a limited recourse structure. Further details about the parties involved in the transaction, such as the buyer and seller, were not disclosed in the provided context.