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Maverick Commercial Mortgage Arranges $2.7M Loan For Multifamily Property In Chicago

Property Image
FINANCED
$2,700,000

Illinois

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MultiFamily17,940 SF
Financed 03/29/2021
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Property Image
FINANCED

Maverick Commercial Mortgage Arranges $2.7M Loan For Multifamily Property In Chicago

1049 North Paulina Street, Chicago, IL 60622

See Similar Deals
MultiFamily17,940 SF
Financed 03/29/2021
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$150
Total Square Footage:17,940 SF
Transaction Type:Loan

The multifamily property located at 1049 N. Paulina Street in Chicago was involved in a recent closed transaction. The property consists of 13 units and was sold for an undisclosed price.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Date: 03/29/2021
  • Address: 1049 N. Paulina Street, Chicago

Matthew Cohen of Maverick Commercial Mortgage served as the broker for this transaction. He represented the buyer or seller in the deal.

The transaction involved a loan amount of $2,700,000. The loan terms include a 20-year loan duration, a 55 percent loan-to-value ratio, a fixed interest rate for 10 years, a floating rate for 10 years, and a 30-year amortization schedule.

Players

Matthew Cohen
Maverick Commercial Mortgage
Matthew Cohen
5 deals$5M volume
BROKER

Details

FINANCED
IMAGE: Matthew Cohen DATE: 03/29/2021 ADDRESS: 1049 N. Paulina Street MARKET: Chicago ASSET TYPE: Multifamily ~ UNITS: 13 BROKER: Matthew Cohen - Maverick Commercial Mortgage LOAN AMOUNT: $2,700,000 LOAN TERMS: 20-year loan, which features a 55 percent loan-to-value ratio, a fixed interest rate for 10 years, a floating rate for 10 years and a 30-year amortization schedule

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,700,000.00

Monthly NOI$18,000.00
Monthly Debt Service$17,065.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00