2719 North Halsted Street
StackSource recently arranged financing for an owner occupied medical office condo property located in the Lincoln Park neighborhood of Chicago, IL. The property is owned by an endocrinologist that was seeking to refinance a maturing mortgage. StackSource Director Chris Peters was able to secure debt financing from a local bank lender that provided cash out up to 75% LTV with a 5-year fixed rate at 6.50% with a 20-year amortization. The lender had a flat $1,000 origination fee and was able to use an in-house valuation service that saved the borrower the cost of an appraisal, further reducing the already low closing costs.