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Inland Bank Lends on LPC’s Spec Build in McKinley Park
Inland Bank and Trust and Logistics Property Company (LPC) closed a $10-million construction loan for the development of LPC’s 3711 S. Ashland Ave. logistics center. The 137,992-square-foot project in the Southwest Side’s McKinley Park neighborhood, is slated for completion late this summer.
Chris Metcalf, SVP and head of commercial lending with Inland Bank, originated the loan.
“Inland Bank found this to be an attractive opportunity due to the desirable location of the development site, ideally positioned within close proximity to Chicago’s Loop providing easy access to the entire Chicagoland area via I-55 and I-94,” said Metcalf. “Once completed, this highly functional industrial property will offer true one-hour delivery time to downtown Chicago.”
Aaron Martell, EVP Midwest region for LPC, will be managing the project. Of Inland Bank’s execution, Martell said, “We’re looking forward to doing more deals with them.”
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