Elliott Quigley, Asher Motew & Quinn Keenan Secure $3.06M Loan For Mixed-use Property In Chicago

The property involved in this transaction is a mixed-use asset located at 2569 North Milwaukee Avenue in Chicago. The asset comprises 10 units, consisting of 4 commercial spaces and 6 residential units. The loan amount secured for this property was $3,061,043 as part of a fixed-rate refinance.

Summary of transation details:

• Property Type: Mixed-use
• Transaction Amount: $3,061,043
• Market: Chicago
• Units: 10 (4 Commercial & 6 Residential)
• Loan Type: Fixed rate refinance
• LTV: 78%
• Income derived from retail: 54%
• Interest Rate: 5.55%
• Amortization Period: 30 years

The brokers representing the deal were Asher Motew, Quinn Keenan, and Elliott Quigley from Essex Capital Markets. They noted a clean execution on the cash-out refinance, indicating a successful process for their clients.