Updated Mar 6, 2026
Will Murphy Of CEDARst Companies Secures $7.62M Construction Loan From Daniel Barrins Of Associated Bank For 40-Unit Project
4725 North Clifton Avenue
$7,620,000
Units
40
Asset Type
MultiFamily
Closing
Mar 3, 2026
About this deal
AI
A construction loan was provided for a five-story, 40-unit apartment project located at 4725 North Clifton Avenue in the Chicago market. This multifamily asset, situated in the Uptown Square Historic District, is designed as a transit-oriented development next to the Chicago Transit Authority Red Line Lawrence Station, which is undergoing significant modernization.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,620,000
- Lender: Daniel Barrins - Associated Bank
- Landlord: Will Murphy - CEDARst Companies
- Units: 40
- Loan Type: Construction
The deal was managed on the lending side by Daniel Barrins representing Associated Bank. Will Murphy represented CEDARst Companies as the landlord for the development project. This partnership aims to enhance housing options in the vicinity of major transit routes.
On the Map
$7,620,000
MultiFamily
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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
2.08%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93