1120 E 89th

Maverick Commercial Mortgage, Inc. Announces $7,500,000 Financing On a 150,000 SF Multi-Tenant Industrial Building in Chicago, IL.

Maverick Commercial Mortgage, Inc. has funded a first mortgage loan for $7,500,000 with a repeat borrower based in Bethesda, MD. The loan, provided by a regional bank, is a 5 year loan that will be swapped at closing to provide a competitive 5-year fixed rate loan. A por-tion of the loan proceeds will be used for capital improvements to the property post closing.

The subject property is a fully occupied multi-tenant industrial building on Chicago’s south side. The building is 100% leased to 2 ten-ants, Chicago Transit Authority and SCR Transportation. The industrial market on the south side is effectively close to full occupancy

This is Maverick’s second time closing a loan with this client. Maverick financed the closing of the adjacent properties with this borrower allowing for the creation of an industrial park by this borrower. The borrower, 1788 Holdings, LLC, is a Maryland based national real es-tate investment firm specializing in purchasing and repositioning older vintage light industrial properties and industrial outdoor storage properties.

About Maverick Commercial Mortgage, Inc.
Maverick Commercial Mortgage, Inc., arranges a wide variety of commercial real estate loans ranging from $2,000,000 to $100,000,000 for its middle market real estate developer and investor clients.

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