Yale Avenue Apartments

Chicago
,
IL
80% LTV, 5/25
Amount: $
372000
Interest Rate: 
4
%

StackSource recently arranged acquisition financing on behalf of a New York based real estate investment group to acquire a 6-unit apartment building located in the Englewood neighborhood on Chicago's South Side.  The property was recently rehabbed with top end finishes and features three 4-bedroom and three 3-bedroom units.  The investment group has been building a portfolio of 1-4 unit residential properties but was looking for a commercial lender that could help them with larger 5+ unit properties.  StackSource Capital Advisor Chris Peters was able to secure an 80% LTV, 5-year fixed rate mortgage at 4.00% with a 25-year amortization from a local Chicago-based bank lender.

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