CHICAGO, ILLINOIS– Essex Capital Markets, LLC. is pleased to announce the successful closing of a $9.5 million loan to refinance two multifamily properties in Chicago’s Lakeview neighborhood. The financing, secured on behalf of a Chicago-based private investment firm was originated by President, Darragh Griffin, and Analyst, Quinn Keenan.
The financing package includes a ten-year, full-term interest-only Fannie Mae loan of $9.5 million.
The luxury properties, situated just steps from Chicago’s Lake Michigan, feature a total of 116 high-end apartments.
• 620 W. Surf St.: This 4-story walk-up features a brand-new lobby and provides residents with immediate access to shops, entertainment, dining, and easy commutes, with the lakefront path, museums, and outdoor spaces of Lincoln Park just a short walk away.
• 420 W. Melrose St.: This property includes 68 units and offers an elegant lobby, lake-view apartments, a fitness center, and an outdoor space with community tables and gas grills.
Both properties are situated in the heart of Lakeview, a neighborhood renowned for its vibrant atmosphere, combining residential streets, bustling commercial areas, and scenic lakefront views. The neighborhood features popular attractions such as Wrigley Field, diverse dining options, and a variety of cultural and entertainment venues.
“Essex Capital Markets has successfully completed a 2-property refinance for one of Essex Realty Group’s esteemed long-term clients. Through our commitment to providing flexible options and tailored solutions, we met their specific needs and reinforced our dedication to building lasting relationships and delivering exceptional financial service and advisory,” said Darragh Griffin.