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American Street Capital Arranges $11.4M Loan for Refinancing of Multifamily Property in Alsip, Illinois

The property consists of 144 units across 12 buildings.

ALSIP, ILL. — American Street Capital (ASC) has arranged an $11.4 million loan for the refinancing of a 144-unit multifamily property in Alsip, a southwest suburb of Chicago. Built in 1974, the property consists of 12 buildings across nearly six acres. The complex was 94 percent leased at the time of the loan closing. Igor Zhizhin of ASC arranged the five-year loan, which features a fixed interest rate and a 30-year amortization schedule. A bank provided the loan. The borrower acquired the asset in the first quarter of 2020 and immediately began implementing a value-add strategy. The property received new roofs, common areas, siding, unit flooring and kitchens.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ NAI Global
‣ Walker & Dunlop

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