Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Maverick’s Cohen Arranges 30-Year Loan for Ukrainian Village Apartments
Matthew S. Cohen of Maverick Commercial Mortgage closed a 30-year fixed-rate loan for a non-owner occupied three-unit multifamily property located at 944 N. Wood in the Near West Side’s Ukrainian Village neighborhood. Financial terms weren’t disclosed.
The building is a gut rehab with three two-bed/two-bath, soft-loft style apartments. The apartments are top of the line with luxury condo like finishes. Each unit features an alarm, central a/c/forced heat, exposed brick, hardwood floors, granite countertops, stainless steel appliances, in-unit laundry, and more. The building welcomes pets, has rear decks, and offers parking.
The fully amortizing loan from a national lender paid off the existing lender, returned equity to the borrowing entity, and paid for closing costs. Cohen was able to close the loan at the exact proceeds, rate and terms applied for. This was the fourth multifamily loan Cohen closed on behalf of this borrower in the past six months.
- ◦Financing
