Dwight Capital Provides $55M Loan For 481-Unit Multifamily Property In Wheeling, IL
1572 Teal Lane, Wheeling, IL 60090
$55,000,000
$95/SF
Building Size
579,200 SF
Asset Type
MultiFamily
Closing
Nov 11, 2021
AI
The multifamily property located at 1572 Teal Lane in Wheeling, IL has recently undergone a closed transaction. This property consists of 481 units and is situated in the Wheeling market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $55,000,000
- Lender: Dwight Capital - Keith Hoffman
Keith Hoffman from Dwight Capital acted as the lender in this transaction, providing a loan amount of $55,000,000 for the acquisition of the multifamily property.
Players
Wheeling 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93