CHICAGO, ILLINOIS — Essex Capital Markets is pleased to announce the successful closing of acquisition financing for a 64-unit multifamily property located at 930 West Winona Street in Chicago’s Uptown neighborhood.
Chicago Multifamily Acquisition Financing Overview
The Essex Capital Markets team arranged a $7,800,000 loan through a national banking partner, providing the sponsor with a five-year hybrid term. Through a competitive market process and mid-course execution strategy, the team was able to increase loan proceeds by approximately $200,000 compared to the sponsor’s initial relationship bank terms while also securing a 25 basis point reduction in spread, resulting in meaningful interest savings over the loan term.
“We’re proud of the outcome achieved on this transaction,” said Director Asher Motew. “By managing the process end-to-end and working within the sponsor’s existing banking relationship, we were able to materially improve both proceeds and pricing while preserving long-term flexibility.”
Uptown Chicago Multifamily Market Fundamentals
Located in Uptown, the property benefits from strong neighborhood fundamentals driven by proximity to Lake Michigan, access to the CTA Red Line and multiple bus routes, and a growing mix of dining, entertainment, and cultural amenities. Continued investment throughout the submarket has supported consistent rental demand and reinforced Uptown’s position as a desirable North Side multifamily location.
Essex Capital Markets Transaction Team
The transaction was facilitated by Directors Asher Motew and Quinn Keenan and Managing Director Elliott Quigley. This closing highlights Essex Capital Markets’ ability to deliver consistent, relationship-driven financing solutions across Chicago’s multifamily markets by pairing competitive pricing with reliable execution.