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.
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.