Englewood Apartments

Chicago
,
IL
2.29% fixed rate, no lender origination fee
Amount: $
392000
Interest Rate: 
2.29
%

StackSource recently arranged financing for a 92% occupied 13-unit multifamily property in the Englewood neighborhood on Chicago's South Side.  The property was recently updated with a new roof, furnace, water heater, exterior doors and a new doorbell system.  The buyer is located out of market and owns several investment properties in Chicago.  StackSource Capital Advisor Chris Peters was able to secure a first mortgage from a national bank lender with a 2-year term, 25-year amortization and a 2.29% fixed rate with no origination or application fees.  The loan also features an asset-backed personal line of credit fixed at 2.75% with interest only payments.

Charitable Cause supported by 1% of StackSource's revenue on this transaction:
Habitat for Humanity of Greater Newark