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2200 North Clark Street

Beal Properties Chicago Secures $20.8 Million Refinance Loan From Wells Fargo For Mixed-Use Asset
FINANCEDMultiFamily

Beal Properties Chicago Secures $20.8 Million Refinance Loan From Wells Fargo For Mixed-Use Asset

2200 North Clark Street & 540 West Surf Street

$20,800,000

Building Size

Asset Type

MultiFamily

Closing

Feb 12, 2026

AI

The mixed-use and multifamily asset located at 2200 North Clark Street & 540 West Surf Street in Chicago features 90 units and falls within a significant urban market. The transaction involved a refinance of a loan amounting to $20,800,000.

Summary of transaction details:

  • Property Type: Mixed-Use & Multifamily
  • Transaction Amount: $20,800,000
  • Lender: Wells Fargo
  • Landlord: Beal Properties Chicago
  • Brokers: Asher Motew & Quinn Keenan - Essex Capital Markets
  • Loan Type: Refinance
  • Loan Terms: Balance Sheet Execution | Max Leverage | Equity Cash-Out

Essex Capital Markets facilitated the transaction by coordinating with existing and new lending relationships, producing high-quality underwriting materials. They handled lender communication, negotiations, and execution, ensuring the sponsor could concentrate on portfolio operations and providing all capital sources the opportunity to offer their best competitive terms.

Players

Quinn Keenan

Essex Capital Markets

Broker

$175.4M

vol

23 deals

Broker
Wells Fargo
Wells FargoLender

Chicago 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

0.76%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93