CHICAGO-Wilton US Commercial Inc., a privateREIT funded by private Irish investors,has gained a $14 millionmortgage for 65 E. Wacker Place. The 24-story office is in theLoop, just off of Michigan Avenue.

Wilton purchased the 220,000-square-foot building, built in the1920s, for $16 million cash in late 2010 from PrivateBank. The building is 90% leased with tenants such asMorton’s Steakhouse, Lawrence Hall Youth Servicesand the Pacific College of Oriental Medicine.

Financing was based on a five-year term with interest-onlypayments. Jeff Cherner, SVP and managing directorof the local office of NorthMarq Capital, arrangedthe loan through its correspondent relationship with INGInvestment Management and the advisor toLacera, a California-based pension fund. USEquities, which leases and manages the tower, assisted on thefinancing arrangement. Cherner said in a statement that the loanallowed Wilton to recoup much of their investment, and will providecash for renovation and leasing costs.