Updated May 12, 2025
ACRES Capital Corp. Provides $30.5M Acquisition Loan For Development Site On Fulton Street In Chicago
1200 West Fulton Street, Chicago, Illinois 60612, United States
$30,500,000
$328/SF
Building Size
92,944 SF
Asset Type
Development Site
Closing
Jan 18, 2022
About this deal
AI
The asset involved is a development site located at 1200 Fulton Street in Chicago. It encompasses 92,944 square feet and is positioned within the Chicago market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $30,500,000
- Loan Type: Acquisition Loan
- Lender: ACRES Capital Corp. - Mark Fogel
The transaction was facilitated by Mark Fogel, representing ACRES Capital Corp., who provided the loan for the acquisition of the property. This highlights the role of financial institutions in supporting development projects in urban markets.
On the Map
$30,500,000
$328/SF
Development Site
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Players
Chicago Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93