Updated Jun 18, 2026
Matthew Bowker Closes $1,900,000 Refinance Loan For 25-Unit Multifamily Portfolio In North Chicago
1440 Hervey Avenue
$1,900,000
$78/SF
Building Size
24,258 SF
Asset Type
MultiFamily
Closing
Jun 10, 2026
About this deal
AI
The asset involved in this transaction is a multifamily property located at 1440 Hervey Avenue in North Chicago. The portfolio consists of 25 units spread across 24,258 square feet. The loan amount for the refinance is $1,900,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,900,000
- Loan Type: Refinance
- Loan Terms: 5
- Lender: Matthew Bowker
- Landlord: Artur Barkan & Pavel Vaysman
- Broker: Matthew Bowker - Lodge Financial
The refinance deal was noted for involving a five building portfolio that has been owned for less than 12 months. Matthew Bowker facilitated this transaction as the broker and also served as the lender.
On the Map
$1,900,000
$78/SF
MultiFamily
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Players
North 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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93