Essex Capital Markets has completed the refinancing of a six-unit multifamily property located at 2216 West 21st Place in Chicago’s Pilsen neighborhood. The loan was arranged on behalf of a local private investor by Essex Capital Markets Analyst Quinn Keenan.

This property features a mix of six two-bedroom/one-bath apartments. In 2023, the property underwent a significant renovation, and some of the apartment improvements consisted of new kitchens and updated bathrooms. The financing package includes a $795,000 bank loan with a 5-year term, 6.625% fixed rate, up to 70% LTV, and a flexible 5-4-3-2-1 prepayment structure.

“Our focus from the start was keeping the process simple and efficient for the borrower,” said Keenan. By staying hands-on and moving quickly, especially around the appraisal, we were able to close ahead of maturity and deliver a cash-out refinance that aligned with their long-term goals.”

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with Greg Mutz, Chairman & CEO of Amli Residential Partners, LLC, and Keynote Interviewer Fred Schreiber, Chief Operating Officer at Connect Midwest Multifamily, on June 4, 2025, at The Midland Hotel, Chicago, IL. Register Today to network with your peers!