Bob Burk Of UrbanStreet Group Secures $94 Million Construction Loan From Bank OZK In Schaumburg
$94,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 29, 2025
AI
The property involved is a development site located at the southwest corner of Algonquin Road and Meacham Road in Schaumburg. UrbanStreet Group is undertaking a significant redevelopment of the former Motorola campus, with a total investment planned of $1 billion. The first phase, costing $175 million, will feature 321 apartments and 60,000 square feet of retail space, with Fresh Market serving as an anchor tenant.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $94,000,000
- Lender: Brannon Hamblen - Bank OZK
- Landlord: Bob Burk - UrbanStreet Group
- Location: Southwest Corner of Algonquin Road & Meacham Road, Schaumburg
- Loan Type: Construction
The deal was facilitated by Brannon Hamblen from Bank OZK, who provided the construction loan for UrbanStreet Group, represented by Bob Burk. This loan marks a pivotal moment in the ongoing transformation of the 225-acre site into a walkable mixed-use district.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93