Northmarq’s Chicago office arranges sale of Orland Towne Center in Orland Hills, Illinois

The Northmarq team also secured $14.6 million in financing for the property

CHICAGO, ILLINOIS (February 9, 2022) – Jeff Frankel, senior vice president of Northmarq’s Chicago office, in conjunction with brokering the sale of Orland Towne Center, arranged a $14.6 million first mortgage loan on behalf of the buyer, Sperry Equities. Northmarq arranged the fixed rate loan for the borrower through its correspondent relationship with a life insurance company. The 138,000 sq. ft. big box retail property is located at West 159th Street and 94th Avenue in Orland Hills, Illinois. The transaction was structured with a 10-year term on a 30-year amortization schedule.

“We found the most fitting lender who had the existing loan and familiarity with the property and a great prior relationship with the buyer to make this a smooth transaction,” said Frankel.

Orland Towne Center contains several strong leading tenants including Aldi, Edge Fitness, Five Below, and PetSmart, along with the newest location of Duly Health and Care (formerly DuPage Medical Group). In addition to these anchors, the center is complemented by an exceptional mix of high-quality tenants including Hallmark and Subway. The property is also shadow anchored by a nearly 200,000 square-foot Walmart store.