Updated Sep 15, 2026
Lodge Financial Secures $2.2M Refinance For 34-Unit Multifamily Portfolio In Chicago
8100 South Evans Avenue & 8200 South Evans Avenue
$2,200,000
$72/SF
Building Size
11,391 SF
Asset Type
MultiFamily
Closing
Sep 1, 2026
About this deal
AI
The transaction involved a multifamily asset comprising two buildings located at 8100 & 8200 South Evans Avenue in Chicago. This portfolio consists of 34 units with a total square footage of 30,273 and is valued at $3.56 million.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,200,000
- Lender: Lodge Financial
- Borrower: Jonathan Kranzler
- Broker: Matthew Bowker - Lodge Financial
- Loan Type: Refinance
- Loan Terms: 5
- LTV: 62%
- LTC: 95%
Jonathan Kranzler, the borrower, has owned the property for less than 24 months and is an experienced investor from out of state. The cash-out refinance facilitated by Lodge Financial was executed after significant renovations and rent growth were achieved within this short ownership period.
On the Map
$2,200,000
$72/SF
MultiFamily
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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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93