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Maverick Closes on Mortgage Loan for South Side Industrial
Maverick Commercial Mortgage, Inc. closed on a $3,550,000 first mortgage loan for 8801 and 8835 S Greenwood Ave in Chicago. This is an acquisition loan on two adjacent industrial buildings on Chicago’s South Side leased to SCR Medical Transportation, which was acquired by Beacon Mobility.
The loan has a 60-month term with an interest rate fixed at 4.15%. The lender was a Midwest financial institution. The borrower was a Maryland-based national real estate investment firm specializing in single tenant net leased industrial properties.
The transaction encompasses 8801 S. Greenwood at 47,000 square feet and 8835 S. Greenwood at 16,125 square feet. The properties are unique as there is substantial land that allows for parking of 300 vehicles that are used by the tenant for transporting clients of PACE. The Greenwood campus is the Chicago headquarters of Beacon Mobility and is in one of Chicago’s top industrial markets.
- ◦Sale/Acquisition
- ◦Financing
