Bank OZK Provides $125M Loan For Development Site In Chicago, IL
FINANCED
$125,000,000
Illinois
See Similar DealsDevelopment Site320,000 SF
Financed 10/01/2021
FINANCED
Bank OZK Provides $125M Loan For Development Site In Chicago, IL
1229 West Concord Place, Chicago, IL, USA
See Similar DealsDevelopment Site320,000 SF
Financed 10/01/2021
Summary
ILLINOIS
Asset Type:Development Site
Price Per Square Foot:$390
Total Square Footage:320,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$125,000,000.00
Monthly NOI$833,333.33
Monthly Debt Service$790,085.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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