Red Oak Capital Holdings Provides $10M Loan For Four Points Hotel Acquisition In Schiller Park

The property asset involved in this transaction is the 295-room Four Points by Sheraton Chicago O’Hare Airport hotel located at 10249 West Irving Park Road in Schiller Park. The hotel features a total square footage of 195,000 and sits on a 7.5-acre lot. The acquisition price for the hotel was $13 million.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $10,000,000
• Lender: Stratos Athanassiades, Thomas Gorski & James Myatt - Red Oak Capital Holdings
• Loan Type: Acquisition
• Loan Terms: 18-month, interest-only
• Keys: 295
• Market: Schiller Park
• Address: 10249 West Irving Park Road
• Acres: 7.5
• Square Footage: 195,000

Stratos Athanassiades, Thomas Gorski, and James Myatt from Red Oak Capital Holdings are key individuals involved in this transaction. They provided a nonrecourse bridge loan to finance the acquisition and renovation of the hotel. The financing is part of Red Oak's Core-Plus program, which will support initial capital improvements at the property near O’Hare International Airport.