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Old National Bank Provides $9.375M Loan For Retail Property In Elmhurst IL

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FINANCED
$9,375,000

Illinois

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Retail74,000 SF
Financed 12/07/2022
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FINANCED

Old National Bank Provides $9.375M Loan For Retail Property In Elmhurst IL

559 North York Street

See Similar Deals
Retail74,000 SF
Financed 12/07/2022
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Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$126
Total Square Footage:74,000 SF
Transaction Type:Loan

Summary of transaction details

Players

Matthew (Matt) Stearns
34 deals$910.4M volume
BROKER

Old National Bank
LENDER

Details

FINANCED
IMAGE: Matthew Stearns DATE: 07/12/2022 ADDRESS: 559-611 N York Street MARKET: Elmhurst, IL ASSET TYPE: Retail LENDER: Old National Bank LANDLORD: Brookline Real Estate (@Brookline_Real_Estate) BROKER: Matthew Stearns - Black Bear Capital Partners (@BlackBearCapitalPartners) LOAN AMOUNT: $9,375,000 LOAN TYPE: Acquisition LOAN TERMS: The multi-tenant mixed-use center, spanning over 74k SF, was financed via a 5-year fixed rate and with interest-only payments. The financing was provided by a balance sheet lender at 75% leverage with a limited recourse structure.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,375,000.00

Monthly NOI$62,500.00
Monthly Debt Service$59,256.38
Change in Cash Flow$0.00
Refinance Proceeds$0.00