Project: Southside - Bronzeville - Chicago - Broken Condo Financing
Client: A seasoned Chicago based operator specializing in broken condo building in Bronzeville, sub-market of Chicago.
Transaction: Client had an opportunity to purchase 3 condo units in buildings where he owned condos.
Challenge: All of the Borrower’s capital was used and he wanted to purchase these 3 units.
Opportunity: Our client had bank relationships but they would not close quickly and would not lend until the property was rehabbed and occupied.
Action: The client pledged a free and clear unit that the Borrower recently purchased and Sherpa Capital Group LLC provided 100% financing to purchase these 3 units.