Maverick Commercial Mortgage Closed A $1,200,000 First Mortgage Loan On a Multi-Family Rental Building in Chicago, IL
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Matthew Cohen of Maverick Commercial Mortgage is proud to announce the closing of a first mortgage loan for 930 West Sheridan Road in Chicago, Illinois. 930 West Sheridan is a 12 unit multi-family residential rental building in the Lakeview neighborhood of Chicago. The $1,200,000 loan has a term and amortization of 30 years. The loan has a step-down prepayment provision and is non recourse with standard carve outs. Proceeds from the first mortgage financing paid off the existing lender, paid for closing costs and returned equity to the borrowing entity. The lender has established a 12 month principal & interest reserve. Thanks to the swift and efficient teamwork of Matthew Cohen and Dylan Batman in conjunction with the lender, this loan funded and closed 37 days from the date the application was signed.
About Maverick Commercial Mortgage, Inc.
Maverick Commercial Mortgage, Inc., arranges a wide variety of commercial real estate loans ranging from $2,000,000 to $50,000,000 for its middle market real estate developer and investor clients.
Please contact Matthew Cohen at 312-268-6001, 847-420-3516, or at matt.cohen@mavcm.com.