Updated Sep 3, 2026
Don Wilson Jr. Of Convexity Properties Secures $162.8 Million Loan For 304-Unit Multifamily In Chicago
7 West Elm Street
$162,800,000
Units
304
Asset Type
MultiFamily
Closing
Sep 3, 2026
About this deal
AI
The property asset involved in this transaction is a 28-story multifamily apartment tower located at 7 West Elm Street in Chicago, IL, featuring a total of 304 units. The financing secured for this asset amounts to $162,800,000, classified as a construction loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $162,800,000
- Address: 7 West Elm Street
- Market: Chicago, IL
- Lender: Jamie Dimon - J.P. Morgan Chase
- Landlord: Don Wilson Jr. - Convexity Properties
- Units: 304
- Loan Type: Construction
Key individuals in this transaction include Jamie Dimon, representing J.P. Morgan Chase as the lender providing the $162.8 million loan, and Don Wilson Jr., the landlord affiliated with Convexity Properties, who secured the financing for the apartment project.
Players
Elm 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93