Icarus Investment Group Refinances South Side Chicago Multifamily Portfolio With $73.4M Loan From Lument
South Side, Chicago, Illinois, United States
$73,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 21, 2022
AI
A multifamily portfolio located in the South Side of Chicago has been refinanced with a loan amount of $73,400,000. The property involved in this transaction is owned by Icarus Investment Group and consists of multiple residential units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $73,400,000
- Market: South Side, Chicago
The lender for this refinancing loan is Lument, represented by Nicholas Diamond. The loan terms include a 10-year term, with five years of interest only, and a 35-year amortization schedule. Jonathan Bodner from Two Bins Capital served as the broker in this transaction.
Note: No further details available regarding the specific address or any additional parties involved in the deal.
Players
Chicago 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93