FINANCEDRetail
TIAA Provides $6.15M Refinance Loan For Retail Property In Tinley Park, IL
9501 171st Street
$6,153,000
$141/SF
Building Size
43,623 SF
Asset Type
Retail
Closing
Dec 26, 2023
AI
The retail property located at 9501 171st Street in Tinley Park, IL has undergone a refinancing transaction. The property spans 43,623 square feet and is owned by Brookline Real Estate. The loan for this deal was provided by TIAA.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $6,153,000
- Address: 9501 171st Street, Tinley Park, IL
- Market: Tinley Park, IL
- Lender: TIAA
- Landlord: Brookline Real Estate
The deal was facilitated by Matthew Stearns, a representative from Black Bear Capital Partners.
Players
Market 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
2.58%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93