$4.8 Million Loan Secured By Asher Motew & Quinn Keenan For Multifamily Asset In Chicago

The property asset involved in this transaction is a multifamily unit complex located at 2038 West Touhy Avenue in the Chicago market, consisting of 33 units. The loan amount secured for acquisition was $4,800,000, with a light bridge execution as the loan type, characterized by approximately 80% loan-to-value (LTV) and a coupon rate of 6.25%. The terms include a full term interest-only structure.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,800,000
• Address: 2038 West Touhy Avenue
• Market: Chicago
• Units: 33
• Loan Type: Acquisition
• Loan Terms: Light Bridge Execution | ~80% LTV | 6.25% Coupon | Full Term IO

The transaction was facilitated by brokers Asher Motew and Quinn Keenan from Essex Capital Markets. They conducted a structured and disciplined financing process for the refinancing of 2038–2048 W Touhy, allowing both relationship lenders and new capital sources to compete. This execution improved leverage and reduced the interest rate by approximately 75 basis points from about 7.00% to 6.25%, while aligning with the sponsor’s existing banking relationships.