Updated Oct 28, 2024
CIBC Provides $27.9M Construction Loan For Development Site On S. Wood St. In Chicago
1134 South Wood Street, Chicago, Illinois 60612, United States
$27,900,000
Building Size
—
Asset Type
Development Site
Closing
Sep 18, 2022
About this deal
AI
A development site located at 1134 S. Wood Street in Chicago has recently secured a construction loan. The loan amount, provided by CIBC and its representative Michael G. Capatides, totals $27,900,000. The property, owned by The Chicago Lighthouse and Brinshore Development LLC, is poised for development in the near future.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $27,900,000
- Address: 1134 S. Wood Street, Chicago
- Lender: CIBC - Michael G. Capatides
- Landlord: The Chicago Lighthouse & Brinshore Development LLC
The construction loan provided by CIBC, with Michael G. Capatides representing the lender, enables the development of the property at 1134 S. Wood Street. The owners, The Chicago Lighthouse and Brinshore Development LLC, have obtained the necessary financing to proceed with their development plans.
Players
Chicago Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93