Byline Bank Provides $1.15M Refinance Loan On Skokie Industrial Property
FINANCED
$1,150,000
Illinois
See Similar DealsIndustrial30,000 SF
Financed 02/18/2022
FINANCED
Byline Bank Provides $1.15M Refinance Loan On Skokie Industrial Property
720 North Larrabee Street, Chicago, Illinois 60654, United States
See Similar DealsIndustrial30,000 SF
Financed 02/18/2022
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$38
Total Square Footage:30,000 SF
Transaction Type:Loan
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%.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,150,000.00
Monthly NOI$7,666.67
Monthly Debt Service$7,268.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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