Paul Harb Secures $13.55M Construction Loan For 30-Unit Multifamily At 2206 Maple Avenue
FINANCED
$13,550,000
Illinois
See Similar DealsMultiFamily46,000 SF
Financed 12/11/2025
FINANCED
Paul Harb Secures $13.55M Construction Loan For 30-Unit Multifamily At 2206 Maple Avenue
2206 Maple Avenue
See Similar DealsMultiFamily46,000 SF
Financed 12/11/2025
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$294
Total Square Footage:46,000 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily building located at 2206 Maple Avenue in Evanston, comprising 30 units and a total square footage of 46,000. The loan amount secured for this construction project is $13,550,000, with terms extending over a period of 2 years.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $13,550,000
- Loan Type: Construction
- Loan Terms: 2 years
- Developer: Paul Harb
- Brokers: Dylan Batman & Ben Kadish - Maverick Commercial Mortgage
- Date of Transaction: 12/11/2025
The transaction involved key individuals including developer Paul Harb, along with brokers Dylan Batman and Ben Kadish from Maverick Commercial Mortgage, who facilitated the deal. Their roles were crucial in navigating the complexities of securing financing for the multifamily asset.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,550,000.00
Monthly NOI$90,333.33
Monthly Debt Service$85,645.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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