Stuart Lichter's Industrial Realty Group Secures $64.4M Loan From PNC Bank For Joliet Campus

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.