Ascend Real Estate Group Secures $16M Loan For Multifamily Property In Chicago
366 West Superior Street, Chicago, IL 60654, USA
$16,000,000
$4,359/SF
Building Size
3,670 SF
Asset Type
MultiFamily
Closing
Nov 16, 2020
AI
The multifamily property located at 366 West Superior Street in Chicago has been involved in a recent transaction. The deal was facilitated by Raymond Zanca from Black Bear Capital Partners (BBCP) acting as the broker.
Summary of Transaction Details
- Property Type: Multifamily
- Loan Amount: $16,000,000
- Units: 34
- Market: Chicago
Avant Capital provided a loan amounting to $16,000,000 for the transaction. The landlord, Ascend Real Estate Group, successfully secured the loan for the multifamily property.
Players
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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93