Updated Oct 29, 2024
Bank Of America Provides $10.5M Loan For Development Site In Chicago
6542 North Clark Street, Chicago, IL, USA
$10,500,000
$224/SF
Building Size
46,875 SF
Asset Type
Development Site
Closing
Jan 6, 2021
About this deal
AI
A development site located at 6542 N. Clark Street in Chicago has recently been involved in a transaction.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,500,000
- Address: 6542 N. Clark Street
- Market: Chicago
- Asset Type: Development Site
- Square Footage: 107,000
The lender for this transaction was Bank of America, and the landlord is @United_Group_development.
The loan amount for this transaction was $10,500,000 with a fixed interest rate of 3.25%.
For more information, visit: UnitedGroupDevelopment.com.
The development site loan at 6542 North Clark Street, Chicago, IL, USA in Chicago, Illinois financed for $10.5M in 2021. The building is 46,875 square feet, implying about 224 per square foot on the published price. This page is the Chicago, Illinois file for the 6542 North Clark Street, Chicago, IL, USA development site financed: pricing, party profiles, and other closed development site comps from the same Chicago sit in the Market section below. Filter that Chicago development site set by closing date to see what else financed near 6542 North Clark Street, Chicago, IL, USA around 2021. Published consideration for 6542 North Clark Street, Chicago, IL, USA is $10.5M, dated 2021. Cite this Bank Of America Provides $10.5M Loan For Development Site In Chicago loan when underwriting similar development site product around Chicago, Illinois.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93