Updated Apr 10, 2026
Stuart Lichter's Industrial Realty Group Secures $64.4M Loan From PNC Bank For Joliet Campus
2200 Channahon Road
$64,400,000
Building Size
—
Asset Type
Industrial
Closing
Apr 9, 2026
About this deal
AI
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.
On the Map
$64,400,000
Industrial
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Players
Rockdale Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93