President of Maverick Commercial Mortgage, Inc. Benjamin L. Kadish announced the closing of a first mortgage loan on April 11, 2022 for 8801 and 8835 S. Greenwood Ave. in Chicago.
This is an acquisition loan on two adjacent industrial buildings on the South Side of Chicago leased to SCR Medical Transportation. SCR was acquired by a national firm named Beacon Mobility.
The transaction is comprised of two buildings: 8801 S. Greenwood at 47,000 square feet and 8835 S. Greenwood at 16,125 square feet. The properties are unique as there is substantial land that allows for parking of 300 vehicles that are used by the tenant for transporting clients of PACE. The Greenwood campus is the Chicago headquarters of Beacon Mobility and is one of Chicago’s top industrial markets.
8801-35 S. Greenwood Ave. is located in Chicago’s growing Southeast submarket. The buildings are only minutes from a full interchange with I-94 and 87th Street.
The loan has a 60-month term with an interest rate fixed at 4.15%. The lender funding the loan is a Midwest financial institution. The borrower is a Maryland based national real estate investment firm specializing in single tenant net leased industrial properties.
