$16.5 Million Loan Secured By Daniel Barrins Of Associated Bank For Multifamily Acquisition In Libertyville

The property involved in the transaction is located at 115 Lake Street in Libertyville, IL. The multifamily asset consists of 34 residential units and features 25,147 square feet of fully leased commercial space. The acquisition price for the property was $22 million, and the financing provided was $16.5 million, reflecting a strategic investment in a market showing strong occupancy rates with apartments being 97% occupied at the time of closing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $22,000,000
• Loan Amount: $16,500,000
• Lender: Daniel Barrins - Associated Bank
• Broker Representatives: Philip Galligan, Annie Thomas, Merrick Evans & Patricia Heminger - JLL
• Market: Libertyville, IL
• Occupied Rate: 97% at closing
• Parking Spaces: 41
• Asset Square Footage: 25,147

The financing for the acquisition was arranged by JLL for an undisclosed sponsor. Daniel Barrins represented Associated Bank in providing the loan, with a focus on supporting the acquisition process. The brokerage team from JLL included Philip Galligan, Annie Thomas, Merrick Evans, and Patricia Heminger, all of whom played significant roles in facilitating the transaction.