Western Suburb of Chicago - Construction Financing New Homes
Client: A well-established land developer/home builder in the Hinsdale and Westmont submarket.
Transaction: Client purchased a 4-lot subdivision in the Westmont area (Hinsdale Central school district) as well as 4 un-finished townhomes in Crystal Lake, IL.
Challenge: The Borrower came across an opportunity to purchase more developed land in Westmont at a attractive basis and required additional monies to finish the 4 homes as well as the townhomes.
Opportunity: Their banking relationships would not finance construction and time was of the essence as they wanted to complete the projects before winter.
Action: Sherpa Capital Group LLC provided a $900K loan with 2 additional funding of $200K each.