CRE N Illinois

Wool Finance Partners arranges $2M loan on mixed-use Chicago property

Damen-and-Dickens-avenues

Matt Lebenson of Wool Finance partners has arranged a $2 million loan on a 6-unit, mixed-use property in the Bucktown neighborhood at the southwest corner of Damen and Dickens avenues.

Matt Lebenson of Wool Finance partners has arranged a $2 million loan on a 6-unit, mixed-use property in the Bucktown neighborhood at the southwest corner of Damen and Dickens avenues.

The property was fully rehabbed and stabilized. The ownership was looking for maximum cash out proceeds on a short-term loan with minimal pre-payment penalty.

Lebenson secured a bank lender out of Boston who structured an 85 percent LTC, 3-year-term, interest-only loan with pre-payment only occurring in the first year of the term.