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Palatine – Land Development, 17 Improved Lots

Client: A commercial real estate developer focused on northwest suburbs of Chicago (Hoffman Estates, Palatine, Schaumburg)

Transaction: Refinance and development loan for 5 Acre parcel of land subdivided and approved for 17 buildable lots located in the William Fremd School district in Palatine.

Challenge: Client wanted to obtain short term development land financing to improve lots and sell to national home builder.

Opportunity: Sherpa Capital Group LLC was able to provide financing secured by 17 improved lots ready for build.  Lots located in a highly attractive school district and market for newly built homes in the $650,000-$750,000 price range.

Action: Sherpa Capital Group LLC provided a first mortgage structured at a sub 35% loan to value.

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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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