A $16.8 million loan on the 280,821 square-foot Marketplace of Matteson Shopping Center in Matteson, IL has become delinquent for the first time, according to Trepp, which cites February servicer data.
The loan, which matures in March 2016, was sent to a special servicer in October 2013 due to imminent monetary default. The new special servicer comments from February say the borrower and lender are working toward completing an uncontested foreclosure.
Tenants at the property, which was built in 1965 and renovated in 2000, include a 78,190 square foot Burlington Coat Factory and the 66,557 square foot Cub Foods Store.
Marketplace at Matteson is located in south suburban Chicago at the intersection of Lincoln Highway (Route 30) and Governors Highway.