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366 West Superior Street, C...

Ascend Real Estate Group Secures $16M Loan For Multifamily Property In Chicago
FINANCEDMultiFamily

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

Raymond Zanca

Black Bear Capital Partners

Broker

$188.9M

vol

12 deals

Broker
Avant Capital
Avant CapitalLender

Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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