American Street Capital Arranges $3.9M Loan for Refinancing of Chicago Apartment Building
CHICAGO — American Street Capital (ASC) has arranged a $3.9 million loan for the refinancing of a 32-unit apartment building in Chicago’s Logan Square neighborhood. The majority of the units at the property, built in 1926, are one-bedroom layouts. The building was fully leased at the time of the loan closing. Igor Zhizhin of ASC arranged the 20-year loan, which features a 10-year fixed rate, 10-year floating rate and a 30-year amortization schedule. An agency lender provided the loan for the borrower, a seasoned owner-operator.