Paul Harb Secures $13.55M Construction Loan For 30-Unit Multifamily At 2206 Maple Avenue
2206 Maple Avenue
$13,550,000
$294/SF
Building Size
46,000 SF
Asset Type
MultiFamily
Closing
Dec 10, 2025
AI
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.
Players
Evanston 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
1.17%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93