North Park Ventures Secures $6.2M Refinance Loan From Lument For Chicago Multifamily Asset
FINANCED
$6,200,000
Illinois
See Similar DealsMultiFamily17,833 SF
Financed 02/12/2025
FINANCED
North Park Ventures Secures $6.2M Refinance Loan From Lument For Chicago Multifamily Asset
913 West School Street
See Similar DealsMultiFamily17,833 SF
Financed 02/12/2025
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$347
Total Square Footage:17,833 SF
Transaction Type:Loan
913 West School Street is a MultiFamily property located in the Chicago market. The property has recently undergone a refinancing transaction with a loan amount of $6,200,000.00, which is set for a term of 60 months.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $6,200,000.00
- Loan Type: refinance
- Loan Terms: 60 Months
- Lender: Lument
- Lender's Representative: Managing Partner at Alpha Capital
- Landlord: North Park Ventures, Robert Sekula
The refinancing transaction involves key participants including Lument as the lender and Alpha Capital's Managing Partner as the lender's representative. Robert Sekula represents North Park Ventures, the landlord of the property. These individuals and their roles are integral to the completion of this financial arrangement.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,200,000.00
Monthly NOI$41,333.33
Monthly Debt Service$39,188.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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