Fulton Street Co. Secures $31.7M Construction Loan From Obra Real Estate In Chicago
1010 West Madison Street
$31,700,000
$792/SF
Building Size
40,000 SF
Asset Type
Retail
Closing
Jul 31, 2026
About this deal
AI
The asset involved in this transaction is a retail property located at 1010 West Madison Street in the Chicago market, featuring a total square footage of 40,000. The loan amount secured for this property is $31,700,000 under a construction loan type.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $31,700,000
- Address: 1010 West Madison Street
- Market: Chicago
- Lender: Obra Real Estate – Scott Larson & Alex Guckien
- Borrower: Fulton Street Co. – Alex Najem & Ross Babel; Shanna Khan
- Loan Type: Construction
The transaction is represented by Scott Larson and Alex Guckien from Obra Real Estate, while Fulton Street Co. is represented by Alex Najem, Ross Babel, and Shanna Khan. This deal highlights the collaboration between these key individuals in securing the financing for the property development.
On the Map
$31,700,000
$792/SF
Retail
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Players
Chicago Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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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