CHICAGO, ILLINOIS — Essex Capital Markets, LLC is pleased to announce the successful closing of an $850,000 acquisition loan for a 7-unit corner multifamily property located in Chicago’s vibrant Logan Square neighborhood. The financing was arranged by Essex Capital Markets Directors, Quinn Keenan and Asher Motew, on behalf of a local private investor.
The loan was provided by a local bank and structured with a three-year term and a 70% loan-to-value ratio.
Situated at Schubert and Avers, just three miles from downtown, the property benefits from proximity to Palmer Square, the 606 Trail, and convenient access to CTA Blue Line, bus routes, and major roadways. Logan Square is a sought-after neighborhood known for its artistic energy, dining, nightlife, and strong renter demand.
The transaction was facilitated alongside Essex Realty Group brokers Brian Keegan, Jim Darrow, and Jordan Gottlieb, who represented the seller. The buyer engaged Essex Capital Markets to arrange competitive financing terms for the acquisition.
“Most lenders initially struggled to reach the leverage our client needed. By leveraging our relationships and encouraging a broader underwriting approach, we sourced a local bank willing to size proceeds more creatively. That ultimately resulted in just over 70 percent loan-to-purchase, and despite the complexity on paper, the process was seamless from start to finish,” said Director Quinn Keenan.