Thorofare has recently funded a $3,500,000 acquisition loan for the purchase of a 7-story, boutique office building in Chicago’s River North sub-market. The borrower opportunistically acquired the property and required a quick closing within one week of application.

The property is a historic mixed-use building containing approximately 65,140 square feet of gross building area comprised of 56,140 square feet of above grade office/retail space and 9,000 square feet of lower level space, located in heart of downtown Chicago. The property is currently vacant and zoned DX-7, Downtown Mixed-use District.

River North is located steps away from The Magnificent Mile and the Chicago Loop and offers superb access to amenities, including world-class restaurants, nightclubs, specialty retailers and art galleries. Further, the area benefits from strong rents and solid office fundamentals as companies move away from the Loop to enjoy the amenities of River North.