Old National Bank Provides $5.25M Acquisition Loan For Retail Property In Glen Ellyn, IL
FINANCED
$5,250,000
Illinois
See Similar DealsRetail23,333 SF
Financed 04/28/2023
FINANCED
Old National Bank Provides $5.25M Acquisition Loan For Retail Property In Glen Ellyn, IL
1184 W Roosevelt Road
See Similar DealsRetail23,333 SF
Financed 04/28/2023
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$225
Total Square Footage:23,333 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,250,000.00
Monthly NOI$35,000.00
Monthly Debt Service$33,183.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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