DLC Secures $41.6 Million Loan For Danada Square West Shopping Center In Wheaton, Illinois
280 South Naperville Road
$41,600,000
$132/SF
Building Size
314,819 SF
Asset Type
Retail
Closing
Jan 29, 2025
AI
An approximately 314,819-square-foot retail shopping center located at 2-280 South Naperville Road in Wheaton, Illinois, has secured a loan of $41,600,000. This property, known as Danada Square West, is anchored by Jewel-Osco and is currently 92.7% leased, featuring retailers such as TJ Maxx, HomeGoods, and Ulta. The loan features a five-year, fixed-rate term.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $41,600,000
- Address: 2-280 South Naperville Road
- Market: Wheaton
- Asset Size: 314,819 square feet
- Landlord: Adam Ifshin - DLC
- Brokers: Alex Staikos, Christopher Knight & Scott Aiese - JLL
- Loan Terms: five-year, fixed-rate
JLL Capital Markets arranged the financing on behalf of borrower DLC, with a team comprising Alex Staikos, Christopher Knight, and Scott Aiese involved in securing the loan for the shopping center transaction.
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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93