Essex Capital Markets Arranges $6,315,000 Loan For 33-Unit Multifamily Property In Chicago

3348 West Wilson Avenue is a 33-unit multifamily property located in Chicago's Albany Park neighborhood. The property was financed with a loan amount of $6,315,000, structured under an acquisition and construction loan type. The financing arrangement includes an 80% loan-to-cost (LTC) structure and features a 225-basis point spread with a partial interest-only period.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,315,000
• Units: 33
• Loan Terms: 80% LTC | 225 BPS Spread | Partial IO
• Market: Chicago
• Address: 3348 West Wilson Avenue
• Capital Markets Advisors: Asher Motew & Quinn Keenan - Essex Capital Markets

Essex Capital Markets facilitated the loan process for the transaction, securing a new lending relationship for a repeat client. The financing structure was tailored to meet the needs of the acquisition, demonstrating the firm's expertise in capital markets advisory.