CIBC Bank USA Provides $81.8M Construction Loan For Mixed-Use Property In Chicago

160 North Morgan

Mixed-use

Financed 1 year ago

Summary

Loan

ILLINOIS

Mixed-use

Located at 160 N Morgan in Chicago, this mixed-use property consists of 282 units. The transaction took place on March 28, 2022, and the property was purchased by Sterling Bay, represented by Andy Gloor.

Summary of transaction details

Property Type: Mixed-use
Transaction Amount: $81,800,000
Loan Type: Construction Loan

CIBC Bank USA provided a construction loan of $81,800,000 for the acquisition of the property. Sterling Bay, a Chicago-based real estate developer, acted as the landlord in the transaction, with Andy Gloor representing the company.

Players

All
1

Lenders
1

Canadian Imperial Bank of Commerce

Details

Deal Summary

FINANCED

IMAGE: Andy Gloor DATE: 03/28/2022 ADDRESS: 160 N Morgan MARKET: Chicago ASSET TYPE: Mixed-use ~ UNITS: 282 LENDER: CIBC Bank USA LANDLORD: Sterling Bay - Andy Gloor LOAN AMOUNT: $81,800,000 LOAN TYPE: Construction Loan

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Address160 North Morgan

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