Updated Mar 11, 2026
Black Bear Capital Partners ("BBCP") secured a $1.635 million acquisition loan from Stormfield Capital for an industrial property in Mundelein.
404 Washington Boulevard
$1,635,000
$51/SF
Building Size
31,600 SF
Asset Type
Industrial
Closing
Nov 5, 2025
About this deal
AI
The asset involved in this transaction is an industrial property located at 404 Washington Boulevard in Mundelein, featuring a total square footage of 31,600. The loan for this acquisition was set at $1,635,000 with a loan type classified as Acquisition. The loan terms stipulated a duration of 1 Year Bridge.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $1,635,000
- Loan Type: Acquisition
- Loan Terms: 1 Year Bridge
- Lender: Stormfield Capital - Max Antoniou
- Broker: Matt Stearns - Black Bear Capital Partners
Max Antoniou represented the lender, Stormfield Capital, in this transaction. Matt Stearns acted as the broker from Black Bear Capital Partners, facilitating the loan acquisition process for the industrial asset.
Players
Mundelein 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
9.70%
Cash-on-Cash
-2.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93