Essex Capital Markets Secures $15.51M Fannie Mae Refinance For Multifamily Asset In Chicago

The property asset involved in this transaction is a multifamily building with 58 units located at 3116 West Logan Boulevard & 2401 North Kedzie Boulevard in the Chicago market, facilitating a loan of $15,514,000 as part of a refinance through the Fannie Mae agency. The loan includes terms with a maximum loan-to-value ratio, maximum interest-only period, a 1.58% spread, and full equity cash out.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,514,000
• Loan Type: Refinance - Agency (Fannie Mae)
• Loan Terms: Max LTV | Max IO | 1.58% Spread | Full Equity Cash Out
• Address: 3116 West Logan Boulevard & 2401 North Kedzie Boulevard
• Market: Chicago
• Units: 58

The deal involved brokers Asher Motew, Quinn Keenan, and Elliott Quigley from Essex Capital Markets. Essex managed the financing process, structured around a Fannie Mae execution, and led the waiver process to achieve enhanced proceeds and extended interest-only terms. Their proactive management ensured alignment between the loan structure and the sponsors’ capital return goals.