Property records show that the current ownership group acquired 420 N. Wabash Ave. for $5 million, using a $4.7-million mortgage. Cohen Financial's capital markets unit arranged the refinancing.
In addition, Cohen Financial's Don Trossman also put together new loans for two suburban office properties.
An office building at 700 E. Lake Cook Rd. in Buffalo Grove was refinanced at $4.5 million, and 65% loan-to-value. A life insurance company provided the money for the five-year loan.
A $3.2-million mortgage was written on Kennedy Corporate Center at 1530 E. Dundee Rd. in Palatine. The bank loan on the 39,927-sf building was written at 80% loan-to-value, setting the collateral's likely price at $4 million. It was acquired in February 2000 for $3.12 million, according to property records.
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