CHICAGO, ILLINOIS – Essex Capital Markets is pleased to announce the successful financing of a 33-unit multifamily property located at 3348 W. Wilson Ave. in Chicago’s Albany Park neighborhood. The $6,315,600 acquisition and construction loan was arranged through a local banking partner.
Transaction Summary
| Property | 3348 W. Wilson Ave., Chicago, Illinois |
|---|---|
| Neighborhood | Albany Park |
| Property Type | Multifamily |
| Units | 33 |
| Loan Type | Acquisition and Construction Loan |
| Loan Amount | $6,315,600 |
| Lender | Local Bank |
| Transaction Team |
Asher Motew, Director Quinn Keenan, Director |
| Term | Three Years |
| Loan-to-Cost | 80% |
| Interest Rate | 6.43% |
Acquisition and Construction Financing Overview
The loan provided the sponsor with a competitive capital solution designed to support both the acquisition and planned improvements to the property. Structured with a three-year term, an 80% loan-to-cost ratio, and a 6.43% interest rate, the financing strengthened the borrower’s acquisition strategy and provided the capital needed to move the business plan forward.
The transaction was facilitated by Directors Asher Motew and Quinn Keenan.
“On a transaction like this, price alone does not always win,” said Motew. “We structured the financing to give the sponsor greater certainty and additional leverage in the acquisition process, which ultimately helped strengthen the offer.”
Albany Park Multifamily Investment Market
Located on Chicago’s Northwest Side, Albany Park remains an active middle-market multifamily submarket supported by diverse housing stock, strong renter demand, neighborhood amenities, and access to public transportation. These fundamentals continue to attract investors seeking value-add and long-term ownership opportunities across Chicago’s apartment market.
The property’s established location and planned improvement strategy helped support a financing structure that aligned the lender, sponsor, and long-term investment plan.
Work With Commercial Real Estate Financing Advisors
Essex Capital Markets helps commercial real estate owners and investors evaluate capital sources, structure competitive financing, and execute acquisitions, refinances, construction projects, and other complex transactions. To speak with our Capital Markets team about an upcoming financing need, complete the form below.
About Essex Capital Markets
Essex Capital Markets is a Chicago-based commercial real estate capital advisory firm providing debt placement and financing solutions for investors, owners, and developers. Through extensive lender relationships and a disciplined market process, the firm helps clients secure financing structures aligned with their business plans and long-term investment objectives.