Old National Bank Provides $9.375M Loan For Retail Property In Elmhurst IL | 559-611 N York Street | Old National Bank | Matthew (Matt) Stearns | Retail | Loan

Summary

Loan

ILLINOIS

Retail

74,000 sqft

Summary of transaction details

Property Type: Retail
Transaction Amount: $9,375,000
Address: 559-611 N York Street, Elmhurst, IL
Market: Elmhurst, IL
Lender: Old National Bank
Landlord: Brookline Real Estate
Broker: Matthew Stearns - Black Bear Capital Partners

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Players

All
3

Agents
1
Agencies
1
Lenders
1

Matthew (Matt) Stearns

Senior Managing Director

Details

Deal Summary

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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Address559-611 N York Street

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