Northmarq’s Chicago Debt + Equity team led by Kevin McCarthy successfully arranged $24.7 million in refinancing for Reside on Jackson, a 93-unit Class A multifamily property located at 1241 and 1245 W. Jackson Blvd. in Chicago.
Northmarq arranged the financing on behalf of the borrower, Newcastle Investors, through the firm’s in-house Fannie Mae DUS platform. The permanent fixed-rate financing is structured on a five-year term.
Built in 2016, Reside on Jackson offers a rare combination of condo-quality finishes and walkable access to one of Chicago’s most sought-after neighborhoods. The community’s modern construction, institutional-quality design and amenity package continue to position it competitively in Chicago’s luxury multifamily market.
The community offers residents a mix of one- and two-bedroom apartment homes featuring spacious floor plans, high-end finishes, in-unit laundry and central air conditioning. Community amenities include a resident rooftop with grills, bicycle storage, a 24-hour concierge service and 24-hour emergency maintenance.
Conveniently located steps from Chicago’s West Loop, residents benefit from convenient access to local dining, entertainment and retail destinations. The community also offers proximity to major employment centers and multiple public transportation options.
