Orland Hills, Ill. — Northmarq has arranged the sale of Orland Towne Center in Orland Hills, 34 miles from Chicago. The 138,000-square-foot retail center is home to Aldi, Edge Fitness, Five Below, PetSmart and Duly Health and Care. In addition to brokering the sale, Northmarq’s Jeff Frankel also arranged a $14.6 million first mortgage loan on behalf of the buyer, Sperry Equities. A life insurance company provided the fixed-rate loan, which features a 10-year term and a 30-year amortization schedule.
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