Don't Miss This Property in Chicago, IL!

Chicago IL Home

Experienced Borrower looking to cash-out on subject property and hold for long-term loan. Subject is a SFR located in Chicago, IL. Borrower acquired it for $210k on 9/15/2023 and spent over $38k on renovation before placing tenants in it. Property is currently leased and generating monthly rent of $3,100/month which is in line with the appraiser’s estimate of market rent (3,100/Month). The property was appraised for $315k as-is. Sponsor has decent credit and bank statements reflect sufficient liquidity to meet the reserve requirement. Loan structured and priced in accordance with the LTR model. Total loan amount 70% LTV with 1.52 DSCR.