Old National Bank Provides $27.09M Acquisition Financing For Storage Post's Self Storage Portfolio In Chicago
FINANCED
$27,091,000
Illinois
See Similar DealsSelf Storage336,808 SF
Financed 12/05/2024
FINANCED
Old National Bank Provides $27.09M Acquisition Financing For Storage Post's Self Storage Portfolio In Chicago
2051 North Austin Avenue
See Similar DealsSelf Storage336,808 SF
Financed 12/05/2024
Summary
ILLINOIS
Asset Type:Self Storage
Price Per Square Foot:$80
Total Square Footage:336,808 SF
Transaction Type:Loan
The asset involved in this transaction is a Self Storage Portfolio located at multiple addresses in Chicago: 2051 North Austin Avenue, 3245 W 30th St, 6331 N Broadway, 3215 W Lawrence Ave, and 5145 N Clark St. The portfolio encompasses a total square footage of 336,808 and is financed through a loan type categorized as Acquisition Financing, amounting to $27,091,000.
Summary of transaction details:
- Property Type: Self Storage Portfolio
- Transaction Amount: $27,091,000
- Loan Type: Acquisition Financing
- Lender: Old National Bank
- Landlord: Storage Post
- Brokers: Steven Klein, Robert Tonnessen & Phil Galligan - JLL
This transaction highlights the role of key participants, including the lender, Old National Bank, and the landlord, Storage Post. The brokers facilitating this deal are Steven Klein, Robert Tonnessen, and Phil Galligan from JLL, representing the respective parties involved.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,091,000.00
Monthly NOI$180,606.67
Monthly Debt Service$171,233.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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