The 10-year non-recourse loan from a life insurance company, amortized over 30 years, is priced based on 10-year Treasury rates.
Cohen Financial also refinanced a 14,489-sf Walgreens at 290 Randall Rd. in South Elgin. The $3.18-million loan from a life insurance company also was written at 75% loan-to-value. It also is a 10-year loan based on 10-year Treasury rates.
The third retail loan is a 14,490-sf Walgreens outside of the Chicago market. The $2.198-million loan, also at 75% loan-to-value, is on a store in Paris, TN. A life insurance company wrote a 25-year non-recourse loan with pricing based on the 15-year Treasury rate.
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