100 South 1st Avenue, 4462 East 1251st Road, 111 South 13th Avenue, 1570 North 30th Road, & 2830 4th Street

  • $5200000
Closed Deal Loan

100 South 1st Avenue, 4462 East 1251st Road, 111 South 13th Avenue, 1570 North 30th Road, & 2830 4th Street

100 S 1st Ave, Mendota, IL, USA
  • $5200000

Building Info

  • Units: 213
  • Property Type: Multi Family
  • Square Feet: 1000

Location

  • Address 100 S 1st Ave, Mendota, IL, USA
  • City Chicago
  • State/county Illinois
  • Zip/Postal Code 61342
  • Country United States

Description

LOAN
IMAGE: Scott Modelski
DATE: 08/17/2021
ADDRESS: 100 S 1st Ave, 4462 E 1251st Rd, 111 S 13th Ave, 1570 N 30th Rd, & 2830 4th St
MARKET: Mendota, Earlville, Ottawa, & Peru, IL
ASSET TYPE: Multifamily

LENDER: Barclays
BROKER: Scott Modelski – BlackBear Capital Partners (@BlackBearCapitalPartners)

LOAN AMOUNT: $5,200,000
LOAN TERMS: The 215-unit MHC portfolio, spanning five (5) sites, was refinanced with a 10-year, non-recourse fixed-rate loan at a 3.25% interest rate with interest-only payments for the duration of the term. The financing was provided by a CMBS lender.
LOAN TYPE: Refinance
UNITS: 215

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