Heartland Bank Provides $18.6M Refinance Loan For Rolling Meadows & Glen Ellyn Office Properties

The loan transaction involving two multi-tenant office properties in Rolling Meadows and Glen Ellyn, IL has been successfully completed. The properties, located at 3601 W Algonquin Road and 800 Roosevelt Road, were refinanced by Stahelin Properties with the assistance of Heartland Bank. The refinancing deal amounted to $18,600,000 and involved a 5-year fixed-rate loan at 70% loan-to-value (LTV). The total combined square footage of the properties is over 400,000 square feet.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $18,600,000
• Lender: Heartland Bank
• Landlord: Stahelin Properties
• Broker: Scott Modelski - Black Bear Capital Partners

Black Bear Capital Partners, represented by Scott Modelski, played a pivotal role in facilitating the loan refinance for the two office properties. The deal was structured as a 5-year fixed-rate loan, providing favorable terms for Stahelin Properties. Heartland Bank, the lending institution, ensured a loan-to-value ratio of 70%, demonstrating confidence in the properties' value and potential.