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Illinois Sports Center
Overview: $2,900,000 acquisition/construction loan to renovate vacant grocery store into indoor sports complex in Chicago Heights, Illinois.
Timing: 60 days from signed term sheet to closing.
Unique Characteristics:
- Financing provides 83% of acquisition and construction dollars to convert 45,000 SF unused grocery store into indoor sports facility and medical therapy practice.
- Allows local church organization to provide local children and their families a safe, quality facility for baseball, gymnastics, track and field, basketball, volleyball, and several other activities.
- Project is located within enterprise zone, and will help improve local economic development.
- Tax-exempt bond financing to provide repayment source for loan.
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