CHICAGO, ILLINOIS — Essex Capital Markets, LLC is pleased to announce the successful financing of a 33-unit multifamily property located at 2038 W. Touhy Avenue in Chicago’s Rogers Park neighborhood. The $4,800,000 acquisition loan was structured with a local banking partner.
Transaction Overview
The transaction was facilitated by Directors Quinn Keenan and Asher Motew. The financing structure provided the sponsor with the leverage and flexibility needed to execute their acquisition strategy while maintaining competitive terms within today’s lending environment.
”The acquisition of the 33-unit property at 2038–2048 W. Touhy Ave. was a great example of how much value a disciplined financing process can create in the middle market. By clearly presenting the strength of the asset and the sponsor’s business plan and running a structured process with lenders, we were able to increase leverage from 75% to 80% LTV – roughly $300,000 in additional proceeds – while improving pricing by 75 basis points and reducing fees. It ultimately resulted in a structure that better supported the sponsor’s acquisition and long-term plan for the property,” said Motew.
Submarket Context: Rogers Park
Located along Chicago’s far North Side, Rogers Park continues to attract investor interest due to its strong rental demand, diverse housing stock, and excellent transit connectivity. The neighborhood offers convenient access to Lake Michigan, major bus routes, and multiple rail lines, while its proximity to Loyola University Chicago and established retail corridors supports consistent tenant demand.
This transaction highlights Essex Capital Markets’ ability to secure competitive acquisition financing for multifamily investors while delivering dependable execution across Chicago’s multifamily markets.