Lodge Financial recently closed $2,560,000 in loans for two Chicago properties. The buildings are both multifamily properties, one in the North Side neighborhood of West Ridge and the other on the South Side in Bronzeville.
In the first transaction, Lodge secured a $1,420,000 acquisition loan for a 12-unit multifamily building in the city’s West Ridge neighborhood. The 10-year, non-recourse loan had a 30-year amortization and a 4.78 percent fixed rate. In the Bronzeville neighborhood, Lodge secured a 10-year, non-recourse loan for $1,140,000. The cash out refinance loan has a 30-year amortization and a 4.53 percent fixed rate.
