Chicago-based Lodge Financial has arranged $2 million in permanent financing for a 20-unit apartment building located at 5656 S. Indiana Avenue in Chicago’s Washington Park neighborhood.
Lodge Financial’s Matthew Lebenson successfully arranged the 10-year, fixed-rate loan at 4.57 percent while in addition structuring 36 months of interest only during the initial term. At $2,000,000, sponsorship was able to recoup over 100 percent of project costs, freeing up capital to source another project.
