Old Second National Bank Provides $46M Construction Loan For Retail Property In Wilmette
1515 Sheridan Road, Wilmette, Illinois 60201, United States
$46,000,000
$460/SF
Building Size
100,000 SF
Asset Type
Retail
Closing
Sep 8, 2022
AI
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.
Players
Wilmette 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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93