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Daniel Rezko Of DAC Developments Secures $71 Million Refinance Loan For Mixed-Use Asset In Chicago

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FINANCED
$71,000,000

Illinois

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Mixed-use190,415 SF
Financed 03/14/2025
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FINANCED

Daniel Rezko Of DAC Developments Secures $71 Million Refinance Loan For Mixed-Use Asset In Chicago

808 North Cleveland Avenue

See Similar Deals
Mixed-use190,415 SF
Financed 03/14/2025
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Summary

ILLINOIS
Asset Type:Mixed-use
Price Per Square Foot:$372
Total Square Footage:190,415 SF
Transaction Type:Loan

The property involved in this transaction is a mixed-use asset located at 808 North Cleveland Avenue, situated in the Chicago market. The property encompasses 278 units and has a total square footage of 190,415. The transaction involves a loan amount of $71,000,000, specifically for refinance purposes.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $71,000,000
  • Address: 808 North Cleveland Avenue
  • Market: Chicago
  • Asset Size: 278 units
  • Square Footage: 190,415
  • Landlord: Daniel Rezko - DAC Developments; Dennis Thompson & Corey Thompson - Bayview Holdings Limited
  • Lender's Representative: Michael Hoffenberg - Trevian Capital
  • Broker: Anthony Longo - Alpha Capital

Key individuals involved in this transaction include Daniel Rezko from DAC Developments and the Thompsons, Dennis and Corey, associated with Bayview Holdings Limited. Michael Hoffenberg serves as the lender's representative from Trevian Capital, while Anthony Longo represents the broker, Alpha Capital, in this financial deal.

Players

Anthony Longo
32 deals$954.8M volume(312) 218-4445
BROKER

Michael Hoffenberg
Trevian Capital
8 deals$179.8M volume(847) 309-1445
BROKER

DAC Developments
LANDLORD

Details

FINANCED
IMAGE: Michael Hoffenberg, Corey Thompson, Anthony Longo, Dennis Thompson & Daniel Rezko DATE: 03/14/2025 ADDRESS: 808 North Cleveland Avenue MARKET: Chicago ASSET TYPE: Mixed-use ~ UNITS: 278 ~ SF: 190,415 LANDLORD: Daniel Rezko - DAC Developments; Dennis Thompson & Corey Thompson - Bayview Holdings Limited LENDER'S REP: Michael Hoffenberg (@MHoffenberg) - Trevian Capital BROKER: Anthony Longo (@AnthonyjLongo) - Alpha Capital LOAN AMOUNT: $71,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$71,000,000.00

Monthly NOI$473,333.33
Monthly Debt Service$448,768.30
Change in Cash Flow$0.00
Refinance Proceeds$0.00