Project: Northwest Suburbs of Chicago- Spec Single Family Construction Financing
Client: An experienced single family condo developer focused on luxury homes in northern and northwest suburbs of Chicago.
Transaction: Ground-up Construction loan for single family home on the far north side of of Chicago.
Challenge: Client owned land free and clear and already had started construction with his own funds. He wanted to obtain construction financing to finish his project so he could utilize his cash for other new opportunistic development projects.
Opportunity: Sherpa Capital Group LLC was able to provide financing within a very short turnaround and giving them construction draws to complete the project. Loan was a very low loan to cost at less than 40%.
Action: Sherpa Capital Group LLC provided a first mortgage structured as a construction loan with multiple draws to best accommodate builder to complete in the most timely manner.
Transaction: Ground-up Construction loan for single family home on the far north side of of Chicago.
Challenge: Client owned land free and clear and already had started construction with his own funds. He wanted to obtain construction financing to finish his project so he could utilize his cash for other new opportunistic development projects.
Opportunity: Sherpa Capital Group LLC was able to provide financing within a very short turnaround and giving them construction draws to complete the project. Loan was a very low loan to cost at less than 40%.
Action: Sherpa Capital Group LLC provided a first mortgage structured as a construction loan with multiple draws to best accommodate builder to complete in the most timely manner.