Village of Willowbrook Agenda Packet 2025-09-22
Village Issues $5.2M Note to HINSDALE BANK & TRUST for Property Purchase
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Description
The Village Board authorized issuance of a $5,200,000 promissory note to HINSDALE BANK & TRUST COMPANY, N.A. to finance the acquisition of 735 Plainfield Road. The loan will be repaid by October 1, 2026, and carries interest at the Term SOFR rate plus 2.25%.
Contract Details
Contract Amount
$5,200,000
Vendor
HINSDALE BANK & TRUST COMPANY N.A.
Agency
Willowbrook village, IL
Contract Type
FINANCIAL_SERVICES
Document Date
September 22, 2025
Contract Term
Promissory Note issued September 2025; Maturity October 1, 2026
Renewal Date
2026-10-01
Renewal Info
Note due and payable October 1, 2026. Monthly interest payments. Full principal due at maturity. Rate resets monthly per SOFR with margin.
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