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American Street Capital Arranges $4M in Financing for 81-Unit Multifamily Property in Chicago Suburb

This property in Oak Lawn, Ill. was constructed in 1963 and includes 81 units.

This property in Oak Lawn, Ill. was constructed in 1963 and includes 81 units.

OAK LAWN, ILL. — American Street Capital has arranged a $4 million acquisition loan for an 81-unit apartment property in Oak Lawn, approximately 16 miles southwest of Chicago. The three-building property, Oak Lawn Gardens, was constructed in 1963 and is 97 percent occupied. The asset features on-site laundry facilities and 67 parking spaces. The non-recourse loan features a 10-year fixed rate and 25-year amortization schedule. The financing was placed with a CMBS lender. Igor Zhizhin of American Street Capital arranged the financing.

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