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construction
Western Suburb of Chicago - Construction Financing New Homes
Chicago
Client : A well-established land developer/home builder in the Hinsdale and Westmont submarket.
Transaction : Client purchased a 4-lot subdivision in the Westmont area (Hinsdale Central school district) as well as 4 un-finished townhomes in Crystal Lake, IL.
Challenge : The Borrower came across an opportunity to purchase more developed land in Westmont at a attractive basis and required additional monies to finish the 4 homes as well as the townhomes.
Opportunity : Their banking relationships would not finance construction and time was of the essence as they wanted to complete the projects before winter.
Action : Sherpa Capital Group LLC provided a $900K loan with 2 additional funding of $200K each.
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