Updated Oct 28, 2024
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
About this deal
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.
The multifamily loan at 1572 Teal Lane, Wheeling, IL 60090 in Wheeling, Illinois financed for $55M in 2021. Reported inventory is 579,200 square feet across 481 units, or about 95 per square foot. Named participants on the 1572 Teal Lane, Wheeling, IL 60090 loan are Keith Hoffman. This page is the Wheeling, Illinois file for the 1572 Teal Lane, Wheeling, IL 60090 multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Wheeling sit in the Market section below. Filter that Wheeling multifamily set by closing date to see what else financed near 1572 Teal Lane, Wheeling, IL 60090 around 2021. Published consideration for 1572 Teal Lane, Wheeling, IL 60090 is $55M, dated 2021. Cite this Dwight Capital Provides $55M Loan For 481-Unit Multifamily Property In Wheeling, IL loan when underwriting similar multifamily product around Wheeling, Illinois.
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