Description

An undisclosed sponsor received a $1.5 million acquisition bridge loan, executed at an 8.99% rate, for an eighteen-month period to purchase an industrial building in Elk Grove Village, IL. Built in 1973, the 56,500 -square-foot building at 1400 Greenleaf Ave., features a spacious open-plan office area with good natural light, tandem to a large warehouse featuring 18’6” ceiling height and three dock doors for loading. As a bonus, a 1,200-square-foot concrete mezzanine, which is not calculated into the total square footage of the building, is accessible above the office. The property sits in the heart of Elk Grove Village and has immediate access to O’Hare International Airport and interstate I-90.

• Loan Type: Commercial Bridge
• Loan Amount Range: $1M - $4.99M