Meanwhile, a 26,192-sf retail center in north suburban Lincolnwood also was refinanced by Cohen Financial. Anchored by an Osco drug store, the 26,192-sf property at the northeast corner of Crawford and Devon avenues was refinanced for $5.475 million.
Principal Life Insurance provided the loan on LaGrange Crossings to Western Springs-based Triangle Partners, according to property records. It is priced based on the 10-year Treasury rate and 10-year swap spread. Cohen Financial's Chris Carroll originated the loan.
The Lincolnwood loan was based on 75% loan-to-value, which puts the value of the neighborhood center at $7.3 million, or $279 per sf. However, the center's owner opted for a 5.95% fixed rate.
Joel Simmons of Cohen Financial originated the loan on the Lincolnwood property.
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