Old Second National Bank Provides $46M Construction Loan For Retail Property In Wilmette
FINANCED
$46,000,000
Illinois
See Similar DealsRetail100,000 SF
Financed 09/09/2022
FINANCED
Old Second National Bank Provides $46M Construction Loan For Retail Property In Wilmette
1515 Sheridan Road, Wilmette, Illinois 60201, United States
See Similar DealsRetail100,000 SF
Financed 09/09/2022
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$460
Total Square Footage:100,000 SF
Transaction Type:Loan
The retail property located at 1515 Sheridan Rd in Wilmette has undergone a recent transaction. The property spans 100,000 square feet and is owned by WS Development, represented by Jeremy Sclar.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $46,000,000
- Lender: Old Second National Bank
- Loan Type: Construction Loan
The loan for this transaction was provided by Old Second National Bank. The amount of the loan was $46,000,000 and it was a construction loan. Meanwhile, WS Development, represented by Jeremy Sclar, acted as the landlord in this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$46,000,000.00
Monthly NOI$306,666.67
Monthly Debt Service$290,751.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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