FINANCED
LEM Equities Refinances Multifamily & Mixed-Use Properties In Chicago For $3.0M
2048 North Damen & 2054 North Campbell
MultiFamily
Financed 1 year ago
Summary
Loan
ILLINOIS
MultiFamily
The recently closed transaction involves the refinancing of two properties located at 2048 N Damen and 2054 N Campbell in Chicago, IL. The properties include a multifamily building and a mixed-use property, amounting to a total of 12 units. The deal was facilitated by Scott Modelski of Black Bear Capital Partners, acting as the broker representing LEM Equities, the landlord.
Summary of transaction details:
- Property Type: Multifamily & Mixed-Use
- Transaction Amount: $3,000,500
The refinancing process was carried out in two parts. One property was refinanced through a 10-year fixed rate loan at 5.52% interest, with the initial four years consisting of interest-only payments. The second property underwent a 5-year fixed rate loan at 5.38% interest, with two years of interest-only payments.
Players
Details
FINANCED
IMAGE: Scott Modelski
DATE: 05/05/2023
ADDRESS: 2048 N Damen & 2054 N Campbell
MARKET: Chicago, IL
ASSET TYPE: Multifamily & Mixed-Use ~ UNITS: 12
LANDLORD: LEM Equities
BROKER: Scott Modelski (@Scott_R_Modelski)- Black Bear Capital Partners (@BlackBearCapitalPartners)
LOAN AMOUNT: $3,000,500
LOAN TYPE: Refinance
LOAN TERMS: One property was refinanced via a 10-year fixed rate loan at 5.52% with 4 years of interest-only payments. The second property was refinanced via a 5-year fixed rate loan at 5.38% with 2 years of interest-only payments.View on map
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Address2048 North Damen & 2054 North Campbell
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