CIBC Bank USA & First Midwest Bank Provide $41.3M Loan For Mixed-Use Property On N. State Parkway, Chicago
1210 North State Parkway, Chicago, IL 60610
$41,300,000
$242/SF
Building Size
170,000 SF
Asset Type
Mixed-use
Closing
Nov 19, 2020
About this deal
AI
1210 N. State Parkway in Chicago has recently been involved in a loan transaction. The loan was made by CIBC Bank USA and First Midwest Bank, with a total amount of $41,300,000. The transaction took place on November 20, 2020. The property, which is a mixed-use asset, is owned by Newcastle Limited, represented by Michael Haney.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $41,300,000
- Date: November 20, 2020
- Address: 1210 N. State Parkway
- Market: Chicago
- Lender: CIBC Bank USA & First Midwest Bank
- Landlord: Newcastle Limited - Michael Haney
The loan transaction at 1210 N. State Parkway involves the collaboration between CIBC Bank USA, First Midwest Bank, and Newcastle Limited, represented by Michael Haney. The loan amount of $41,300,000 reflects the value of this mixed-use property in Chicago's market.
On the Map
$41,300,000
$242/SF
Mixed-use
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Players
Chicago Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93