Oak Brook, IL (PRWEB) March 25, 2008 - Mid-
America Development Partners (http://www.midamdevelopment.com), a full-service commercial real estate firm specializing in retail and shopping center development, has announced the refinancing of one of its assets: Schwind Crossings, a 50,000-square-foot retail center in Wheeling, Ill., 27 miles northwest of Chicago.
Principals of Mid-America Development Partners represented themselves in the $8.8 million transaction with lender Charter One Bank.
"The refinance enabled us to take advantage of the stabilized shopping center with national retailers, which in turn attracted favorable loan terms," said Adam Firsel, development manager for Mid-America Development Partners.
Construction was completed in 2007 for the project, located at the northeast corner of Lake Cook Rd. and Weiland Ave. It is about 96% leased, with tenants including Staples, Fifth Third Bank, Potbelly Sandwich Works, Chipotle, TGI FridayÂs, Verizon Wireless, Luxury Nail Spa, Gamestop, 2nd Wind Exercise Equipment, Hair Cuttery, and Froots.
"This is a great location, convenient for residents of both Wheeling and Buffalo Grove, and on one of the most-traveled roads in the northern suburbs. Target, Wal-Mart and SamÂs Club are at the same intersection," said Firsel.
For information about Schwind Crossings, contact Firsel at 630-954-7202 or Caitlin Bossy, leasing manager, at 630-366-2308.
About Mid-America Development Partners
Based in Oak Brook, Ill., Mid-America Development Partners is a full-service commercial real estate firm building and managing more than 20 retail and mixed-use developments throughout the Chicago area. It is one of four companies comprising The Crescendo Companies (http://www.thecrescendocompanies.com), a privately-held company specializing in commercial real estate development and management, with more than $1.2 billion in projects under development.
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