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Spotlight: Anthony Dister, Assistant Vice President

Construction season has arrived in Chicago and community associations are no strangers to projects as they require regular maintenance and replacement of their common elements. Community Advantage has been serving the community association and property management markets for over 10 years and we’ve financed hundreds of projects for virtually every type of repair for our clients.

Anthony Dister, one of our trusted industry experts, has been with Community Advantage for the past five years. Anthony has provided loans to many different community associations, large and small, city and suburbs, and for all types of projects and loan amounts. Anthony works directly with the Board of Directors and the Association’s management to find a mutually beneficial solution to meet their needs.

One of Anthony’s successful projects included providing financing for a large 175 plus unit building in the South Loop. The association needed $6.5 million to complete a water infiltration rehabilitation project. Anthony was able to structure the loan in two phases which coincided with the construction project itself and the collection of the special assessment for loan repayment.

Another major project was completed for a high end co-op building in Lincoln Park. The Association requested $5.0 million to complete a variety of capital repairs, including elevator replacement, facade repair, and life safety projects. Anthony worked with the Association board to handle the repayment of this loan from a combination of the Association’s regular operating budget, reserves, and special assessment proceeds.

More recently, Anthony worked with a 175 unit suburban townhome association located in Rolling Meadows. The Association requested $1.5 million to complete a much needed roof replacement and carpentry project. Originally, the replacement was going to be phased over five years—however Anthony was able to provide a loan to get the work completed in one year and allow the owners five years to repay the loan. This tailored solution allowed for much greater flexibility for the Association’s residents.

If your Association has been contemplating the completion of a capital repair project, please contact Community Advantage at 847-304-5940 to discuss potential financing options. Anthony, along with all of our Trusted Industry Experts are here to help with any construction or special project financing needs.