Updated Oct 28, 2024
Associated Bank Provides $20M Acquisition Loan For 108-Unit Multifamily Property In St. Charles, IL
200 North 2nd Street, St. Charles, Illinois 60174, United States
$20,000,000
Units
106
Asset Type
MultiFamily
Closing
Feb 21, 2022
About this deal
AI
The multifamily property located at 200 N. Second St in St. Charles, IL has recently undergone a closed transaction. The property consists of 108 units, making it an attractive investment opportunity in the market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Address: 200 N. Second St, St. Charles, IL
- Market: St. Charles, IL
- Units: 108
Teresa Rubio, representing Associated Bank, provided the acquisition loan for this transaction. The loan amount totaled $20,000,000, showcasing the confidence in the property's potential. The landlord for this multifamily property is 3 Diamond Development LLC.
Players
Saint Charles 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93