Inland Bank and Trust Closes $5 Million Industrial Loan in Bedford Park, Illinois
Inland Bank and Trust ("Inland Bank") is pleased to announce the closing of a $5,175,000 acquisition term loan for a 92,000-square-foot industrial building in Bedford Park, Illinois, a southwest suburb of Chicago. The property is 100 percent occupied by a national distribution operator ("the tenant").
Gia Tomaszewski, assistant vice president of Inland Bank, originated the loan. The transaction consisted of a sale-leaseback, in which the tenant will lease back the warehouse property from the purchaser. The property is subject to a new long-term absolute net lease to the tenant, who will continue to operate the facility.
"Inland Bank is proud to partner with a prominent commercial real estate operator in a market where we strive to maintain a strong presence," said Tomaszewski. "The property benefits from its location in proximity to a large population basis, expressways and Midway International Airport. The tenant has a long operating history at this location and has re-affirmed its commitment to the location by committing to a 10-year lease with multiple options to extend."
"Our experience with Inland Bank was seamless and we appreciate their dedication to their clients, especially amid current conditions," said Inland Bank's client.
About Inland Bank and Trust
Inland Bank and Trust, a subsidiary of Inland Bancorp, Inc., has locations in Chicago, Countryside, Elmhurst, Geneva, Glen Ellyn, Hawthorn Woods, Hillside, Lake Zurich, Lombard, Morton Grove, Villa Park and Wheeling. Inland Bancorp, Inc. holds over $1.2 billion in bank assets.
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