REBusinessOnline

American Street Capital Arranges $4.9M Acquisition Loan for Multifamily Building in Chicago

The building, situated in the Marquette Park neighborhood, features 85 units.

CHICAGO — American Street Capital (ASC) has arranged a $4.9 million loan for the acquisition of an 85-unit multifamily building in Chicago’s Marquette Park neighborhood. Constructed in 1928, the three-story building was renovated in 2019. The property features 74 one-bedroom units and 11 two-bedroom units. The asset was 92 percent occupied at the time of the loan closing. Igor Zhizhin of ASC arranged the 20-year agency loan, which features five years fixed and 15 years floating with one year of interest-only payments.

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