NorthPoint Capital – Chicago, Inc., has refinanced an $11.65 million loan on a combination of adjacent retail and office buildings in Chicago. Originally built in the 1920s and renovated to its current use in 2007, this 77,613-square-foot property consists of four four-story loft buildings.
The property is located at the high-traffic intersection of North Clybourn Avenue and North Kenmore Avenue in Chicago’s Lincoln Park neighborhood.
NorthPoint Capital arranged the non-recourse loan through a correspondent life insurance company, with the rate locked at 3.27 percent. The loan was fixed for a term of 20 years with a 20-year amortization schedule.
The borrower was a local repeat client. Paul Walschlager, vice president of NorthPoint Capital – Chicago, Inc., arranged the financing.
