Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Chicago & Midwest  + Downtown  + Finance  | 

American Street Capital in Cash-Out Refi for Chicago Industrial Properties 

American Street Capital (ASC) has arranged a $9,450,000 cash-out refinance for a light industrial portfolio located in Chicago, ASC announced in a press release. 

The sponsors exclusively retained ASC to secure the high leverage, cash-out loans for the buildings.  ASC structured both loans with a 5-year term on a 25-year amortization schedule with a 3, 2, 1, 0, 0 percent pre-payment penalty.  The loans were placed with a correspondent bank lender. Igor Zhizhin, the Founder and President of ASC, originated the loans. 

The first of the two deals include a $6,090,000 cash-out refinance loan for a 102,850-square-foot, two-story light industrial building located on Chicago’s West Side.  The second is a $3,360,000 cash-out refinance loan for a 90,975-square-foot, light industrial property located in the same industrial corridor. 

Located on 4 acres, the property consists of two adjacent buildings and a large parking lot.  The property’s amenities include interior loading docks, drive-in bays, recently renovated restrooms, and ample parking.  Both spaces cater to uses such as storage, wholesale, distribution, and manufacturing. 

Connect

Inside The Story

American Street Capital

About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

  • ◦Financing