Updated Oct 28, 2024
Logica Services Acquires 22-Unit Multifamily Property In Chicago For $1.28M Loan From Arbor Realty Trust
8001 South Justine Street, Chicago, IL 60620
$1,285,000
Units
22
Asset Type
MultiFamily
Closing
Nov 15, 2021
About this deal
AI
The multifamily property located at 8001 S Justine St in Chicago has recently undergone a transaction. The property consists of 22 units and is owned by Logica Services. The deal involved an acquisition loan provided by Arbor Realty Trust, with David Tevis serving as the lender's representative. The loan amount for this transaction was $1,285,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,285,000
- Address: 8001 S Justine St
- Market: Chicago
- Units: 22
- Lender: Arbor Realty Trust - David Tevis
- Landlord: Logica Services
Detailed information about the individuals involved in this deal is as follows. David Tevis represented Arbor Realty Trust as the lender's representative. He played a crucial role in facilitating the acquisition loan for the multifamily property at 8001 S Justine St. Logica Services, the landlord of the property, was the seller in this transaction.
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
12.34%
Cash-on-Cash
-3.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93