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Chicago (Lincoln Park/Elston Corridor) –Office Building Development Loan

Client: A commercial office developer with focus on near north side of Chicago.

Transaction: Acquisition loan for a 10,000 square foot land site located near the Finkl steel site which is being redeveloped.  Client plans to build a new construction 18,000 square foot office building.

Challenge:
Client needed to close on the land acquisition before year-end otherwise they would lose the deal.  Site plans for new office tower were not finalized. 

Opportunity:
Sherpa Capital Group LLC was able to provide financing within 7 days and borrower had significant cash equity and pledged additional real estate collateral.  Closed right before year end 2017.

Action:
Sherpa Capital Group LLC provided a first mortgage to best accommodate developer to obtain the land site and start entitlement process, permits and plans.

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P 312-602-6211
P 312-602-6212
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1070 N. Milwaukee Avenue
Chicago, IL 60642
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info@SherpaCapitalGroup.com
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