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Chicago & Midwest  + South Side  + Retail  | 

Wilshire Quinn Lends on Chatham Retail Buy

Wilshire Quinn Capital’s private lending fund, the Wilshire Quinn Income Fund, recently provided a $6.4-million acquisition loan on 87th Street Center, a multi-tenant retail property in the South Side’s Chatham neighborhood. The borrower wasn’t disclosed.

The center spans 132,427 square feet on 10.72 acres of land. The property was appraised in October for $11,595,000, giving the Wilshire Quinn Income Fund a total loan-to-value ratio of 55% on the transaction.

Built in 1974 and renovated in 2017, 87th Street Center is home to credit tenants including Chipotle, Wendy’s, GNC, Sprint and Burlington Coat Factory. Mid-America Real Estate was hired earlier this year to market the property as a redevelopment opportunity.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).

  • ◦Financing
  • ◦Sale/Acquisition
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