Collateral / Location
• 301.33 acres I 3 industrial land (plus deeded ±50-acre retention parcel) in unincorporated Channahon, Joliet–Central Will County industrial submarket, Chicago MSA.
• Direct I 55/Arsenal Rd access; near I 80, CenterPoint Intermodal; crossed by rail with ±855 feet Des Plaines River frontage (barge potential).
Value & Sponsor Capital
• Recent MAI appraisal (Nov 2025) “as-is” fee simple value: ≈$15,000,000 (≈$1.15/SF).
• Sponsor invested $3,000,000+ post-purchase: ≈$1.5M gravel/earthwork; ≈$400K fencing; ≈$270K permits/LOC; ≈$178K engineering/soft costs.
• Supported “as-is” value view: $15–$17M today; sponsor targets ≈$25M in ±2 years with improvements and leases.
Sponsors / Financials
• Experienced logistics, truck yard, and industrial land operators with long history in Joliet/Channahon.
• Combined equity in this project ≈**$6,000,000**; multiple principals with 800+ credit, seven figure liquidity, and strong recurring income from logistics, construction, warehouses, and rentals.
• Full verification available: PFS, tax returns, rent rolls, engineering, environmental, permits, and appraisal.
Entitlements / Environmental / Status
• Zoning: I 3 Intensive Industrial, allowing heavy equipment, container stacking, truck parking, and future warehouse/terminal uses; few remaining large I 3 tracts in submarket.
• North Road access variance cleared; paving co-funded with DuPont. City requires ≈$270K LOC for permits/tree replacement, which sponsor will post.
• Clean environmental (Phase II/III) with no recognized environmental conditions; site work underway to create pad-ready acreage in phases.
Income Story (Supportive)
• Operating arm already runs multiple fully/near-fully leased container/trailer yards; strong unmet demand for I 3 land and no new I 3 zoning.
• Initial master lease: 5/10/10 term, starting rent ≈**$80,000/month**, stepping to ≈**$120,000/month**, plus tax pass-throughs.
• Phase 1 (≈57 acres) targeted gross income ≈**$220,000/month**; later phases add ≈**$225,000+/month**, with seasonal peaks up to ≈**$468,000/month** including daily storage and ancillary services.
Requested Loan Terms
• Purpose: Rate-and-term refinance of existing land debt and partner buyout on 302-acre tract (including retention parcel).
• Loan amount: ≈$7,500,000 (≈50% LTV on current value).
• Structure: 12 month, interest-only bridge / hard-money loan with two 6 month extensions (max 24 months).
• Sponsors accept market hard-money rate/fees; 6 month interest reserve and all closing costs funded from equity; additional collateral available if desired.
