Essex Capital Markets Secures $1.9 Million Loan For Chicago Multifamily Portfolio Acquisition And Refinance

The transaction involves a multifamily portfolio consisting of two properties located at 1826 North Wood Street, which has 6 units, and 1928 West Henderson Street, which has 4 units. The total loan amount for the acquisition and refinance is $1,900,000. The properties are situated in Chicago, a market known for its established submarkets. The acquisition at 1826 North Wood was financed through a national bank, whereas the refinance at 1928 West Henderson was structured with a regional bank. Both assets are fully occupied.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,900,000
• Acquisition Property Address: 1826 North Wood Street
• Acquisition Units: 6
• Refinance Property Address: 1928 West Henderson Street
• Refinance Units: 4
• Acquisition Loan Rate: 5.87%
• Refinance Loan Rate: 6.00%
• Acquisition Lender: National Bank
• Refinance Lender: Regional Bank
• Occupancy Status: 100% occupied
• Location Market: Chicago

The deal was facilitated by Quinn Keenan and Asher Motew from Essex Capital Markets, who arranged the financing and executed the dual-closing on the same day with different lenders. The refinancing enabled the sponsor to unlock equity from an unencumbered asset to support the acquisition, maintaining a conservative leverage for both properties.