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COUNTRY CLUB HILLS, IL-Cohen Financial secured $19 million in debt financing for the recently completed Country Club Plaza, a 157,600-sf retail center at the intersection of 167th Street and Crawford Avenue. The borrower was described as a “prominent local developer,” according to a released statement on the transaction from Cohen Financial. The developer for the retail center is Tucker Development Corp., based in Highland Park, IL. Representatives from Cohen declined to be interviewed for the article, and an official with Tucker did not return a phone call seeking comment.

The shopping center has 72,000 sf of inline retail stores anchored by Guitar Center RadioShack, Foot Locker and Fashion Bug. Payless Shoes and Bedding Experts are also tenants in the inline retail space. Fifth Third Bank, Applebee’s and Panda Express are outlot tenants and a Loews movie theater is a tenant of a 77,000 sf ground lease.

The space is being marketed from $30 to $34 per sf. The shopping center is part of a 450-acre development with 70 acres of commercial development including a 203,800-sf Wal-Mart Supercenter, according to promotional material from Tucker.

The $19 million non-recourse loan is 75% loan-to-value with the rate based on the 10-year US Treasury. The lender was not disclosed, but was described in the release by Cohen Financial as “a national conduit lender.” Partner Joel Simmons and vice president Steve Kundert, both with Cohen Financial, originated the transaction.

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