Philpsborn Secures $2.2 Million Refinancing for Shopping Center in Metro Chicago

by Katie Sloan

Richton Park, Ill. — The Philpsborn Co. has secured a $2.2 million refinancing for Sauk Trail Plaza, a 30,267-square-foot shopping center located roughly 30 miles south of Chicago in Richton Park.

A 15,000-square-foot Save-A-Lot anchors the center, which was 98 percent leased at the time of financing. The long-term, fixed-rate loan was provided by ICA Investment Advisors. David Kubert of Philpsborn secured the financing on behalf of the borrower, an undisclosed limited liability company. 

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