The property involved in the transaction is a multifamily asset located at 501 Smith Avenue in Lake Bluff. It consists of 48 units and has undergone a refinance process with a loan amount of $2,500,000. The loan features a 5-year term with a fixed rate of 5.5% and includes a cash-out option.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,500,000
• Loan Type: Refinance
• Loan Terms: 5-Year Term | 5.5% Fixed Rate | Cash-Out

Representing this transaction are brokers Asher Motew, Quinn Keenan, and Elliott Quigley from Essex Capital Markets. A key note from the brokers emphasizes the significance of lender fit, highlighting the effective framing of the loan process to provide certainty and a durable financing solution.