Maverick Commercial Mortgage Arranges $2.7M Loan For Multifamily Property In Chicago
1049 North Paulina Street, Chicago, IL 60622
$2,700,000
$150/SF
Building Size
17,940 SF
Asset Type
MultiFamily
Closing
Mar 28, 2021
AI
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.
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93