Karen DeGasperis REALTOR

OFF MARKET Distressed Assets

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OFF MARKET Distressed Notes - View All

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Photo
Property TypePortfolio
LocationChicago, Illinois
TitleDefaulted Large Class A Office Building in Chicago Suburb Crossed with Luxury Tuscan Villa Estate In California(Property A)
Summary

Defaulted Loan on Class A Office Building in Arlington Heights IL
Crossed with 2nd Loan on Luxury Primary Home in California
170,507 SF on 5.33 Acre Lot - Built 1986 and Renovated 2000

Details

Property consists of a 7 Story Office building located just one hour from Chicago off busy highways 53 and 68. Features include 12' ceilings, a 100 seat conference and training center, rooftop signage, onsite food service, storage, plus 680 parking spaces and heated under
ground parking for executives and next to hotels and eateries.

Note Details

Original Loan Amount $7,710,213
Current Interest Rate 12.5%
Due to back taxes, legal fees, 290 days of past due payments
loan can be accelerated and NOD filing coming soon
Loan Matures 8/10/2033
Appraised Value $15,000,000

Current Unpaid Balance$10,133,420.00
Date UpdatedJune 4, 2025