NEWS FLASH: MONEY AVAILABLE
Northmarq SVP Jeff Cherner wants you to know: there's plenty of capital looking for well-leased office buildings (with appropriately capitalized, creditworthy owners) throughout the country. Jeff, here with fellow SVP Sue Blumberg, just helped the Alter Group in financing a $6M first mortgage on the company's two-story HQ at 5500 Howard St in Skokie. In fact, lenders are ready to put their dollars to work in any asset class—from industrial to multifamily—so long as it has a good base of tenants, good location, and strong ownership. The Alter Group's Tom Silva says his firm and another tenant occupy the 61k SF building, a Helmut Jahn-designed structure with good access to the highway, which the company selected when founder Bill Alter was still around. Both Alter and its clients are still seeing lots of capital available for good-credit owners.