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I.H.P. Highland LLC Purchases 1920 S. Highland in Lombard From Ameriprise

CHICAGO, IL – I.H.P. Highland LLC has purchased 1920 S. Highland Avenue in Lombard, Illinois. The property acquisition was financed by a loan from A-10 Capital. Chuck Hoag, Senior Managing Director of Bradford Allen Capital arranged the financing on behalf of I.H.P. Highland LLC.

Built in 1988, 1920 S. Highland Avenue is a Class B, 53,195 square foot office building in the East-West Corridor located near the intersection of I-88 and I-355. The property is ideally located within minutes of an abundance of upscale shopping and dining destinations at Yorktown Shopping Center and along Butterfield Road.

The new owner engaged Bradford Allen Capital to secure financing for the property. Chuck Hoag was able to arrange a long term, non-recourse acquisition loan from A-10 Capital.

“The emergence of non-bank lenders like A-10 Capital, who pursue middle market opportunities, gave the partners several competitively priced non-recourse borrowing options,” said Hoag. “In the past for this type of asset their only option would have been a traditional loan from a local bank.”

This is the second acquisition I.H.P. Highland has completed this year. The owner purchased the adjacent property, 1910 S. Highland in March. 1910 and 1920 S. Highland will be marketed together and ownership plans to renovate the parking lot, HVAC systems and the common areas of the buildings. Bradford Allen’s Ryan Moen and John Millner will be representing both properties.

“The Principals of I.H.P. Highland chose to work with us again based on our relationship and successful track record,” said Moen. “We value and take pride in those we have the honor to work with on a repeat basis. It is a testament to our hard work and commitment to our clients.”

Like 1910, 1920 S. Highland was acquired from the properties prior lender following foreclosure.

 

About Bradford Allen Realty Services

Bradford Allen Realty Services, a Chicago-based commercial real estate firm, offers a full range of services and expertise to entrepreneurial and corporate business entities as well as not-for-profit organizations. The firm provides real estate strategy, advice, marketing, and transaction execution for occupiers, investors and owners of real estate. For more information please visit our website at www.bradfordallen.com.