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66 E Walton St Chicago, IL ...

Fred Latsko Refinances Gold Coast Retail Portfolio With $34M Loan From JDI Realty
FINANCEDRetail

Fred Latsko Refinances Gold Coast Retail Portfolio With $34M Loan From JDI Realty

66 E Walton St Chicago, IL 60611, USA

$34,000,000

Building Size

Asset Type

Retail

Closing

Sep 1, 2023

AI

Fred Latsko, CEO of Latsko Interests, has obtained a $34 million loan from JDI Realty for his Gold Coast high-end retail portfolio in Chicago. The properties included in the portfolio are located on East Walton Street, 900 North Rush Street, 41 East Oak Street, and 23 West Maple Street. These luxury retail spaces form an impressive collection in Chicago's retail market.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $34,000,000
  • Mortgaged Properties: East Walton Street, 900 North Rush Street, 41 East Oak Street, 23 West Maple Street
  • Mortgage Lender: JDI Realty
  • Landlord: Latsko Interests - Fred Latsko

This refinancing deal, secured by Fred Latsko, showcases the trust and confidence placed by JDI Realty in Latsko Interests' retail portfolio. With this loan, Fred Latsko can further enhance and develop his prime high-end retail properties in Chicago's Gold Coast area, solidifying his position as a prominent player in the city's retail sector.

Players

JDI Realty
JDI RealtyLender

Fred Latsko

Latsko Interests

Landlord

$68.4M

vol

5 deals

Landlord

Chicago Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.47%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93