The largest loan was for $5.2 million on the Willowbrook Apartments at 7440 Tennessee Dr. in west suburban Clarendon Hills. The refinancing is based on an appraised value of $8 million for the 140-unit complex, where occupancy is in the low 90% range.
Hickory Oaks Apartments was refinanced for $4.5 million, based on a value of nearly $7 million on the 138-unit complex at 18346 Torrence Ave. in south suburban Lansing. Occupancy is healthier, in the high 90% range.
The 112-unit Oak Crest Apartments in Munster, IN was refinanced for $3.5 million. The property at 8601 Manor Ave. is about 28 miles from Downtown Chicago, the furthest of the three properties refinanced.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
