CIBC Bank USA Provides $21M Loan For Mixed-Use Property In Chicago
440 North Wells Street, Chicago, IL 60654, USA
$21,000,000
$218/SF
Building Size
96,130 SF
Asset Type
Mixed-use
Closing
Sep 10, 2021
About this deal
AI
The mixed-use property located at 440 North Wells Street in Chicago has recently undergone a closed transaction. The property's address is known for its prime location in the Chicago market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $21,000,000
The lender involved in this transaction was CIBC Bank USA. They provided a loan amount of $21,000,000 for the property. The landlord of 440 North Wells Street is North Wells Capital, represented by Anthony Farella. Anthony Farella acted as the landlord's representative in this deal.
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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93