Maverick Arranges Loan on Far South Side Retail Center
Maverick Commercial Mortgage recently closed a loan of $1,580,000 for Maplepark Marketplace, a community retail and service center in the Far South Side’s Beverly neighborhood. The 10 year fixed rate loan on the 28,332-square-foot property at the corner of 115th Street and Halsted Avenue was funded by a national non- bank portfolio lender on a 25-year amortization.
The property, which was developed in 2006, is situated on a 3.36-acre site and is 90% leased. Tenants include Pullman Bank and Trust, Uber, Metro PCS, YWCA, DTLR and a mix of other retail and commercial tenants. It’s shadow anchored by an Aldi Store at 115th and Halsted and by a Walgreen’s along 115th Street.
Sponsor Thomas Morabito has owned and developed the property since 2006. The leasing is handled by Joe Padorr of Seneca Real Estate. Property management is handled by Avison Young.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).