Bethpage Federal Credit Union Provides $90 Million Acquisition Loan For Office Property In Lake Zurich, IL
1 Corporate Dr, Lake Zurich, Illinois 60047, United States
$90,000,000
$82/SF
Building Size
1,091,214 SF
Asset Type
Office
Closing
May 10, 2022
About this deal
AI
Located at 1-4 Corporate Drive in Lake Zurich, IL, this office property spans a total of 1,063,543 square feet. The transaction involved an acquisition loan.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $90,000,000
- Lender: Bethpage Federal Credit Union
- Brokers: Morris Betesh, Jack McPhail, Israel Mermelstein, and Jacob Schmuckler - Meridian Capital Group
The loan was facilitated by Bethpage Federal Credit Union, while the brokerage services were provided by Morris Betesh, Jack McPhail, Israel Mermelstein, and Jacob Schmuckler from Meridian Capital Group.
Players
Lake Zurich Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93