Transaction Documents
Submit a non-binding letter of intent to acquire 16-18 North Lorel Avenue, Chicago, IL 60644
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Contract IL002MR0002-0022 renewed and executed 8/17/2025. HQS inspection passed. Assignment to qualified buyer pending CHA approval — estimated 30–60 day process running concurrently with loan closing.
All visits require 48-hour advance confirmation and executed NDA. Owner's representative present at all times.
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DSCR Quick Reference
| Scenario | NOI Used | LTV | Loan Amount | Rate | Ann. Debt Svc. | DSCR | Passes 1.20x? |
|---|---|---|---|---|---|---|---|
| T12 Actual · 65% LTV | $200,479 | 65% | $1,365,000 | 7.00% | $115,896 | 1.73x | ✓ Pass |
| T12 Actual · 70% LTV | $200,479 | 70% | $1,470,000 | 7.00% | $124,812 | 1.61x | ✓ Pass |
| Normalized · 65% LTV | $122,565 | 65% | $1,365,000 | 7.00% | $115,896 | 1.06x | ⚠ Below |
| Normalized · 65% LTV (CDFI) | $122,565 | 65% | $1,365,000 | 6.75% | $112,032 | 1.09x | ⚠ Below 1.15x |
| Normalized · 80% LTV (CDFI) | $122,565 | 80% | $1,680,000 | 6.75% | $137,886 | 0.89x | ✗ Fail |
Note: Normalized NOI applies 8% mgmt fee + $150/unit/mo reserves. T12 NOI is seller-confirmed 2025 actual. All debt service calculated on 25-year amortization.