Suburban Townhome Projects Get Mezzanine Boost

LAKE ZURICH, IL-The Dearborn Group's 33-unit Flint Creek project here as well as its 26-unit Laramie Park project in Skokie get $2.2 million in mezzanine financing from Washington, D.C.-based CIG International, LLC.

By Mark Ruda | November 25, 2003 at 01:01 AM

CIG International VP Carolyn Brocavich says The Dearborn Group needed nearly $1.4 million in additional equity to satisfy the requirements of the lender providing the construction loan. The need was $850,000 for the Laramie Park project, just below CIG International's minimum target of $1 million. However, Brocavich says an exception was made as a result of the Lake Zurich deal.

Washington, D.C.-based CIG International is attempting to expand its business in the Chicago market.

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