FINANCEDMultiFamily
Darragh Griffin & Quinn Keenan Secure $9.5M Refinance For 1553 North Wells Street Multifamily In Chicago
$9,500,000
$348/SF
Building Size
27,277 SF
Asset Type
MultiFamily
Closing
Jun 27, 2024
AI
The property asset involved in the transaction is located at 1553 North Wells Street, Chicago, IL. This multifamily asset encompasses a total square footage of 27,277 and includes 24 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,500,000
- Loan Type: Refinance
- Loan Terms: Term: 3 Year Full-Term Interest Only, Type: Life Company, Spread: 1.52%
The key individuals involved in the deal are Darragh Griffin and Quinn Keenan, who represented Essex Capital Markets in this transaction.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93