Updated Nov 18, 2025
Bank OZK Provides $125M Loan For Development Site In Chicago, IL
1229 West Concord Place, Chicago, IL, USA
$125,000,000
$390/SF
Building Size
320,000 SF
Asset Type
Development Site
Closing
Oct 1, 2021
About this deal
AI
A development site located at 1229 W. Concord Place in Chicago has been involved in a recent closed transaction. The property, which spans approximately 320,000 square feet and covers 55 acres, was the subject of the deal.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $125,000,000
- Date: 10/01/2021
- Market: Chicago
- Address: 1229 W. Concord Place
Sterling Bay, represented by Andy Gloor, served as the landlord in this transaction. The loan for the deal was provided by Bank OZK, with a loan amount of $125,000,000.
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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93