Finance N Illinois

Lodge Financial arranges $12M for River North office property

Lodge Financial arrnages $12M for River North office property,ph1

Skokie, Illinois-based Lodge Financial has arranged $12,000,000 to refinance a 48,000-square-foot office property located at 435 N. LaSalle Street in Chicago. The loan comes with a five-year term at 75 percent loan-to-value.

Lodge Financial's Matthew Bowker recently closed the commercial mortgage, secured by the stabilized office property located in the heart of the River North neighborhood. With the subject property now stabilized, Bowker was able to provide sponsorship with sufficient proceeds at a competitive rate to recapitalize the equity structure.