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Stuart Lichter's Industrial Realty Group Secures $64.4M Loan From PNC Bank For Joliet Campus
FINANCED
$64,400,000
Illinois
See Similar DealsIndustrial
Financed 04/09/2026
FINANCED
Stuart Lichter's Industrial Realty Group Secures $64.4M Loan From PNC Bank For Joliet Campus
2200 Channahon Road
See Similar DealsIndustrial
Financed 04/09/2026
Summary
ILLINOIS
Asset Type:Industrial
Transaction Type:Loan
The asset involved in this transaction is an industrial property located at 2200 Channahon Road in Joliet, which is part of a larger 52-acre manufacturing campus. The property secured a loan amount of $64,400,000 from PNC Bank following a substantial lease agreement.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $64,400,000
- Address: 2200 Channahon Road
- Market: Joliet
- Lender: PNC Bank
- Landlord: Stuart Lichter - Industrial Realty Group
The transaction was facilitated by the leasing of 1.4 million square feet to Hyundai Translead at the former Caterpillar site. This lease is poised to generate approximately 2,500 jobs, illustrating the ongoing growth in the Chicago-area industrial sector and improving cash flow for Industrial Realty Group.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$64,400,000.00
Monthly NOI$429,333.33
Monthly Debt Service$407,051.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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