facebook

traded

+ Submit
Home

/

Deals

/

Illinois

/

Office

/

Loan

/

1550 West Carroll Avenue

Igor Zhizhin Of American Street Capital Secures $10.6M Refinance For Chicago Office Property
FINANCEDOffice

Igor Zhizhin Of American Street Capital Secures $10.6M Refinance For Chicago Office Property

1550 West Carroll Avenue

$10,600,000

$117/SF

Building Size

90,000 SF

Asset Type

Office

Closing

Sep 13, 2024

AI

The transaction involved a 90,000-square-foot flex office property located at 1550-1556 West Carroll Avenue in the Chicago market. The refinancing loan amount secured was $10,600,000 for this asset, which features office, warehouse, and showroom spaces along with extensive amenities.

Summary of transaction details:

Igor Zhizhin represented the interests of American Street Capital, which arranged the refinancing through a commercial bank for the renovated building in Chicago's Fulton Market area.

Players

Igor Zhizhin

American Street Capital

Broker

$118.5M

vol

12 deals

Broker

Chicago Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.50%

Cash-on-Cash

-0.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93