Bellwether Enterprise Provides $74.5M Loan For Retail Properties In Cicero, Palatine, Mount Prospect & Naperville
2601 South Cicero Avenue, Cicero, Illinois 60804, United States
$74,487,616
Building Size
—
Asset Type
Retail
Closing
Dec 12, 2022
About this deal
AI
The retail property located at 2601 S Cicero Ave, 423-585 E. Dundee Road, 1000-1080 S. Elmhurst Road, 704 South State Route 59 & 237-285 W. Dundee Road in the cities of Cicero, Palatine, Mount Prospect, and Naperville has been involved in a closed transaction.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $74,487,616
- Market: Cicero, Palatine, Mount Prospect & Naperville
The loan for this property was provided by Bellwether Enterprise Real Estate Capital LLC (BWE), with Daniel Rosenberg representing the lending company. The loan amount is $74,487,616. It is a fixed rate, interest-only loan designed to protect against future rate increases. The loan has a term of three years and includes two one-year extension options. The landlord of the property is Continental Realty Corporation.
Players
Cicero 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93