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1000 West Jackson Boulevard

Updated Sep 18, 2026

Bilt advertisement
FINANCEDMultiFamily

Mavrek Development And Fengate Capital Secure $130.4 Million Construction Loan For Multifamily Project In Chicago

1000 West Jackson Boulevard

$130,400,000

Units

380

Asset Type

MultiFamily

Closing

Sep 17, 2026

About this deal

AI

1000 West Jackson Boulevard is a multifamily asset located in Chicago, IL, featuring a total of 380 units. The property is a 25-story development that also includes over 21,500 square feet of ground-floor commercial space, which has been pre-leased to ALDI, and about 31,000 square feet dedicated to indoor and outdoor amenities.

Summary of transaction details:

Affinius Capital originated the construction loan for this joint venture project between Mavrek Development and Fengate Asset Management. The participation of key individuals in the deal includes Adam Friedberg and Lou Serafini Jr. representing the landlords, while John Parrett serves as the broker facilitating the transaction.

Players

John Parrett

CBRE

Broker

$135M

vol

1 deal

Broker

David Greenburg

Affinius Capital

Lender

$1.2B

vol

6 deals

Lender

Lou Serafini Jr.

Fengate Capital

Landlord

1 deal

Landlord

Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $343.2K per unit across 380 units on a published $130.4M (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.12%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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