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913 West School Street

Updated Mar 20, 2025

North Park Ventures Secures $6.2M Refinance Loan From Lument For Chicago Multifamily Asset
FINANCEDMultiFamily

North Park Ventures Secures $6.2M Refinance Loan From Lument For Chicago Multifamily Asset

913 West School Street

$6,200,000

$347/SF

Building Size

17,833 SF

Asset Type

MultiFamily

Closing

Feb 12, 2025

About this deal

AI

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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$6,200,000

$347/SF

MultiFamily

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Players

Anthony Longo
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Anthony Longo

Alpha Capital

Broker

$1.2B

vol

36 deals

Broker
Lument
LumentLender

Robert Sekula

North Park Ventures

Landlord

$145.3M

vol

9 deals

Landlord
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Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $347 per square foot on a published $6.2M for 17,833 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.56%

Cash-on-Cash

-0.73%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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