Updated Oct 29, 2024
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
About this deal
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.
The multifamily loan at 366 West Superior Street, Chicago, IL 60654, USA in Chicago, Illinois financed for $16M in 2020. Reported inventory is 3,670 square feet across 35 units, or about 4.4K per square foot. Raymond Zanca, Black Bear Capital Partners appear on the loan alongside Black Bear Capital Partners. This page is the Chicago, Illinois file for the 366 West Superior Street, Chicago, IL 60654, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Chicago sit in the Market section below. Filter that Chicago multifamily set by closing date to see what else financed near 366 West Superior Street, Chicago, IL 60654, USA around 2020. Published consideration for 366 West Superior Street, Chicago, IL 60654, USA is $16M, dated 2020. Cite this Ascend Real Estate Group Secures $16M Loan For Multifamily Property In Chicago loan when underwriting similar multifamily product around Chicago, Illinois.
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