Daniel Rezko Of DAC Developments Secures $71 Million Refinance Loan For Mixed-Use Asset In Chicago
808 North Cleveland Avenue
$71,000,000
$372/SF
Building Size
190,415 SF
Asset Type
Mixed-use
Closing
Mar 14, 2025
About this deal
AI
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: -
- 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. serves as the lender's representative from , while Anthony Longo represents the broker, Alpha Capital, in this financial deal.
On the Map
$71,000,000
$372/SF
Mixed-use
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Players
Chicago Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93