CHICAGO-Wilton US Commercial Inc., a private REIT funded by private Irish investors,has gained a $14 million mortgage for 65 E. Wacker Place. The 24-story office is in the Loop, just off of Michigan Avenue.

Wilton purchased the 220,000-square-foot building, built in the 1920s, for $16 million cash in late 2010 from Private Bank. The building is 90% leased with tenants such as Morton’s Steakhouse, Lawrence Hall Youth Services and the Pacific College of Oriental Medicine.

Financing was based on a five-year term with interest-only payments. Jeff Cherner, SVP and managing director of the local office of NorthMarq Capital, arranged the loan through its correspondent relationship with ING Investment Management and the advisor to Lacera, a California-based pension fund. US Equities, which leases and manages the tower, assisted on the financing arrangement. Cherner said in a statement that the loan allowed Wilton to recoup much of their investment, and will provide cash for renovation and leasing costs.