LEM Equities Refinances Multifamily & Mixed-Use Properties In Chicago For $3.0M

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.