Property records indicate the lender was Bear Stearns, which took out a mortgage made by LaSalle National Bank in 1995. NorthMarq Capital Inc. VP William L. Avery arranged the loan.
The 32,655-sf Nelson Plaza neighborhood shopping center on U.S. Route 30 in southwest suburban New Lenox was refinanced for $4.2 million, at 70% loan-to-value. The 10-year non-recourse loan is priced partly on the 10-year U.S. Treasury rate and amortized over 30 years. Christopher Carroll of Cohen Financial's capital markets unit originated the loan.
A 19,172-sf retail property at 681-97 Golf Rd., Schaumburg, was refinanced for $1.625 million, at 55% loan-to-value. A life insurance company provided the 10-year non-recourse loan based on the 10-Year U.S. Treasury rate, amortized over 25 years. Joel Simmons of Cohen Financial's capital markets unit originated the loan.
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