Essex Capital Markets Arranges $1.51 Million Acquisition Financing for West Town Multifamily Property
CHICAGO, ILLINOIS – Essex Capital Markets, LLC is pleased to announce the successful financing of a five-unit multifamily property located at 1010 N. Wood Street in Chicago’s West Town neighborhood.
Transaction Summary
West Town Multifamily Acquisition Financing
On behalf of the client, Essex Capital Markets arranged a $1.51 million acquisition loan through a credit union for the purchase of 1010 N. Wood Street. The financing was structured at 74.38% loan-to-value and features a five-year term with a 6.00% fixed interest rate.
The transaction was facilitated by Directors Asher Motew and Quinn Keenan and Analyst Josh Letellier.
“This was a new sponsor to the acquisition game, and he wanted maximum leverage with a rate he could count on. We got a term sheet in hand within two days, and locking that rate early ended up mattering because rates moved before we closed. A diligence item came up mid-process that could have slowed things down, but we worked through it with the sponsor and kept the deal on schedule. He’s already back for his next one,” said Director Asher Motew.
West Town Multifamily Investment Market
Located in West Town, 1010 N. Wood Street is situated within one of Chicago’s established multifamily investment markets, with proximity to Wicker Park, Ukrainian Village, and the broader Near Northwest Side.
The five-unit property was 100% occupied at the time of financing, providing the sponsor with a stabilized asset in a neighborhood that continues to attract multifamily investors seeking access to established residential corridors, neighborhood amenities, and Chicago’s Near Northwest Side.
Essex Capital Markets Transaction Team
The transaction was completed by Director Asher Motew, Director Quinn Keenan, and Analyst Josh Letellier.
The financing reflects Essex Capital Markets’ ability to identify competitive acquisition financing, navigate transaction-specific diligence, and provide consistent execution for multifamily investors across Chicago.
Work With Commercial Real Estate Financing Advisors
Commercial real estate financing extends beyond interest rate and proceeds. Lender selection, leverage, rate structure, timing, and execution can all affect the outcome of an acquisition.
Essex Capital Markets works with commercial real estate owners, investors, and developers to evaluate financing options across banks, credit unions, agencies, debt funds, life companies, and other capital sources.
Talk With Essex Capital Markets
About Essex Capital Markets
Essex Capital Markets is a commercial mortgage brokerage firm providing debt and equity solutions for commercial real estate owners, investors, and developers. The firm combines institutional-level execution with access to a nationwide network of lending partners to help clients identify competitive capital structures across a range of property types and transaction sizes.