$25,250,000 | JSM Ventures, Inc.

Property: 1279-95 N. Milwaukee Ave and 1300 N. Ashland
Location: Chicago, IL
Description: Two adjoining multi-story buildings consisting of 91,120 rentable square feet of self storage space and 20,056 rentable square feet of office space. The recently completed Class A, 100% climate controlled institutional grade mixed use property is located at 1279-95 N. Milwaukee Ave and 1300 N. Ashland Ave in the highly desirable Wicker Park neighborhood of Chicago.
Loan Type: Bridge Loan
Lender: Global Investment Advisor

Client Benefits:

  • Loan-to-Cost ratio in excess of 100% of total project costs to repatriate owner’s equity
  • Closed within 5 weeks of application
  • Non-recourse refinance loan eliminated contingent obligations, so owner could obtain more construction loans
  • 3-year term with extension options created excess time to achieve stabilization