Updated Oct 28, 2024
Byline Bank Provides $1.15M Refinance Loan On Skokie Industrial Property
720 North Larrabee Street, Chicago, Illinois 60654, United States
$1,150,000
$38/SF
Building Size
30,000 SF
Asset Type
Industrial
Closing
Feb 17, 2022
About this deal
AI
Located at 720 N Larrabee St. APT 703 in Skokie, this industrial property spans 30,000 square feet. The transaction took place on 02/18/2022 and involved a loan for the property.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $1,150,000
- Market: Skokie
- Asset Size: 30,000 SF
The loan for this property was provided by Byline Bank. The landlord for the property is Church Street Properties. Representing the deal as broker was Cody Harper from Mag Mile Capital.
The loan amount for this transaction was $1,150,000. It was a refinance loan with a 3.95% fixed interest rate. The loan terms included a 10-year term and a 15-year amortization period. The loan-to-value (LTV) ratio was 60%.
Players
Chicago 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
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93