Essex Capital Markets Secures $7.8M Loan For Multifamily Acquisition In Chicago

The property asset involved is located at 930 West Winona Street in Chicago, consisting of a multifamily unit with a total of 64 units and a square footage of 38,000. The loan amount for this acquisition transaction is $7,800,000, with terms that include maximum leverage, full term interest-only payments, and non-recourse financing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,800,000
• Units: 64
• Square Footage: 38,000
• Address: 930 West Winona Street
• Market: Chicago
• Loan Type: Acquisition
• Loan Terms: Max Leverage | Full Term IO | Non-Recourse
• Broker: Asher Motew, Quinn Keenan & Elliott Quigley - Essex Capital Markets

Essex Capital Markets managed the financing process, coordinating directly with the sponsor’s relationship bank. The decision was made to continue leveraging the existing relationship to meet the client's strategic goals, applying an institutional-level process management approach for a competitive outcome.