Updated Dec 4, 2024
Wind Creek Hospitality Secures $290M Construction Loan For Chicago Casino
$29,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 6, 2023
About this deal
AI
The developer of the $529 million Wind Creek Chicago Southland casino complex, Wind Creek Hospitality, has secured a $290 million construction loan for the project. The casino will span 24 acres in Waukegan and feature a 73,000-square-foot gambling center, a 252-room hotel, and an entertainment venue. The opening of Wind Creek Chicago Southland is slated for the fall of next year.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $290,000,000
- Address: 4011 Fountain Square Place, Waukegan
- Market: Waukegan
- Lender: PCI Gaming Authority - James Dorris
- Landlord: Wind Creek Hospitality
- Loan Type: Construction Loan
Wind Creek Hospitality, the developer behind the Wind Creek Chicago Southland casino, has secured a construction loan of $290 million from PCI Gaming Authority, with James Dorris as their representative. This loan will provide the necessary funding for the development of the casino complex, which is set to become a premier gambling destination in the southern suburbs of Chicago.
Players
Market 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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93