Old National Bank Provides $5.25M Acquisition Loan For Retail Property In Glen Ellyn, IL
1184 W Roosevelt Road
$5,250,000
$225/SF
Building Size
23,333 SF
Asset Type
Retail
Closing
Apr 28, 2023
About this deal
AI
The multi-tenant retail strip center located at 1184 W Roosevelt Road in Glen Ellyn, IL has been acquired through an acquisition loan. The property spans over 23,333 square feet and is owned by Brookline Real Estate.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,250,000
- Lender: Old National Bank
- Broker: Matthew Stearns - Black Bear Capital Partners
The loan provided by Old National Bank is a 3-year fixed-rate loan with interest-only payments. Matthew Stearns from Black Bear Capital Partners represented the buyer in this transaction.
On the Map
$5,250,000
$225/SF
Retail
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Players
Wheaton Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93