Maverick Commercial Arranges $14M in Permanent Financing for Home Depot-Occupied Property in Chicago
CHICAGO — Maverick Commercial Mortgage Inc. has arranged a $14 million first mortgage loan for a 103,550-square-foot retail property occupied by Home Depot in Chicago’s Chatham neighborhood. Earlier this year, Home Depot signed a new 10-year lease with MG Development LP for the property, which is located at 200 W. 87th St. and includes an exterior garden center. A regional bank provided the 10-year, floating-rate loan, which features a 25-year amortization schedule. Proceeds from the loan paid off the existing lender, provided cash to the borrower and paid for closing costs.