CHICAGO, ILLINOIS – Essex Capital Markets, LLC is pleased to announce the successful financing of a five-unit multifamily property located at 2327 West McLean Avenue in Chicago’s Bucktown neighborhood. The loan was arranged on behalf of a private investor by Directors Asher Motew and Quinn Keenan.
Transaction Details and Loan Structure
Essex Capital Markets secured a $1,120,000 local bank loan featuring a 215 basis point spread and 67.51% loan-to-value ratio, providing the sponsor with long-term, non-recourse financing.
Loan Terms: $1.12M, 215 bps Spread, 67.51% LTV
Supporting First-Time Multifamily Investors
The sponsor recently completed value-add improvements to the property, which was nearing stabilization at the time of closing.
“Leaning on pro forma financials, we secured a high-leverage, rehab takeout bridge-to-perm execution for first-time investors, strategically positioning them for long-term success,” said Director Asher Motew.
Bucktown: A Strong Chicago Submarket
Bucktown remains one of Chicago’s most desirable submarkets, offering strong rental demand, access to the 606 Trail, and proximity to downtown. The transaction highlights Essex Capital Markets’ expertise in financing multifamily property across Chicago’s most competitive submarkets.
About Essex Capital Markets
Essex Capital Markets, LLC offers bespoke financing solutions to mid-market investors and developers.
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