Flaherty & Collins Secures $16M Loan For Mundelein Development Site

Flaherty & Collins has secured a loan of $16,000,000 for the development site property located in Mundelein. The loan will support the Plaza Circle redevelopment project, which aims to revitalize the area and create a vibrant downtown. The project includes market-rate apartments, townhouses, commercial space, and public amenities, aligning with the village's vision for a transit-oriented community.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $16,000,000
• Address: Mundelein
• Landlord: Flaherty & Collins - David Flaherty

Mundelein officials have agreed to sell a vacant parcel and provide $16 million in financing to Flaherty & Collins for the Plaza Circle redevelopment. This loan allows Flaherty & Collins to move forward with their plans to revitalize the area and create a vibrant and transit-oriented downtown community.