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8001 South Justine Street, ...

Updated Oct 28, 2024

Logica Services Acquires 22-Unit Multifamily Property In Chicago For $1.28M Loan From Arbor Realty Trust
FINANCEDMultiFamily

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

Arbor Realty Trust
Arbor Realty TrustLender

Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $58.4K per unit across 22 units on a published $1.3M (2021).

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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

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