American Street Capital Arranges $10.2M Acquisition Loan for Multifamily Community in Burbank, Illinois
BURBANK, ILL. — American Street Capital (ASC) has arranged a $10.2 million acquisition loan for a multifamily community in Burbank, about 15 miles southwest of Chicago. Built in 1983, the property consists of 27 buildings across 6.3 acres. The 173 units average 952 square feet. Igor Zhizhin of ASC arranged the seven-year, fixed-rate loan, which features a 30-year amortization schedule and one year of interest-only payments. An undisclosed bank provided the loan. Deshe Real Estate was the borrower. This is the first time the property has traded hands since it was built, according to ASC.