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LaGRANGE, IL-The LaGrange Crossing power center at Ogden Avenue and LaGrange Road in this west suburb has been refinanced for $14.25 million. With the new 10-year, non-recourse loan written at 80% loan-to-value, that pegs the value of the 67,809-sf retail asset at $17.8 million, or $263 per sf.

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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