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1850 Glenview Road

Updated Aug 31, 2026

The Drake Group Secures $32 Million Refinance Loan For 62-Unit Multifamily Community In Glenview IL
FINANCEDMultiFamily

The Drake Group Secures $32 Million Refinance Loan For 62-Unit Multifamily Community In Glenview IL

1850 Glenview Road

$32,000,000

Units

62

Asset Type

MultiFamily

Closing

Aug 28, 2026

About this deal

AI

The property asset involved is a newly built, 62-unit multifamily community located at 1850 Glenview Road in Glenview, Illinois. It is characterized by a refinancing loan of $32 million, which pays off the prior construction facility and the property’s preferred equity investor. Additionally, the asset features 6,886 square feet of ground-floor retail.

Summary of transaction details:

This transaction involved key individuals including Jonathan Daniel from Knighthead Funding, who facilitated the refinancing loan for The Drake Group. JLL, represented by brokers Daniel Gillard, Philip Galligan, Michael Gurwin, and Ryan Planek, was responsible for arranging the debt in this deal.

On the Map

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$32,000,000

MultiFamily

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Players

Michael Gurwin

JLL

Broker

$157M

vol

2 deals

Broker

Jonathan Daniel

Knighthead Funding, LLC

Lender

$79M

vol

2 deals

Lender
TG
The Drake GroupLandlord
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Glenview MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $516.1K per unit across 62 units on a published $32M (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.50%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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