Updated Oct 6, 2026
Draper And Kramer Arranges $14 Million Bridge Loan For 56-Unit Multifamily Property In Chicago
1101 West Berwyn Avenue
$14,000,000
Units
56
Asset Type
MultiFamily
Closing
Oct 4, 2026
About this deal
AI
The Ash Edgewater is a newly constructed multifamily property located at 1101 West Berwyn Avenue in Chicago's Edgewater neighborhood, consisting of 56 residential units. The property is financed through a bridge loan amounting to $14 million, tailored specifically for its acquisition.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Loan Type: Bridge
- Loan Terms: 5-year
- Market: Chicago, IL
- Units: 56
- Brokers: Dan Freedman & Chris Beck - Draper and Kramer
Draper and Kramer arranged the financing for this transaction, presenting a bridge loan with a two-year initial term accompanied by a three-year extension option. The arrangement was facilitated through the expertise of Dan Freedman and Chris Beck from Draper and Kramer's Commercial Finance Group.
On the Map
$14,000,000
MultiFamily
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Players
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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93