Finance N Illinois

Lodge Financial closes loan for 25-unit multifamily property in Chicago

Lodge Financial closes loan for 25-unit multifamily property in Chicago,ph1

Skokie, Illinois-based Lodge Financial has arranged financing for a 25-unit multifamily property in Chicago. The $2,030,000 in acquisition financing had a 80 percent LTV, 10-year term and 30-year amortization. The non-recourse loan had a 4.78 percent fixed rate.

The property is located at 6319-25 N. Mozart Street in the West Ridge neighborhood of Chicago. The property is comprised of a mix of one- and two-bedroom units.