Section 8 Mod-Rehab · Contract IL002MR0002-0022

16-18 North
Lorel Avenue

Invite-only transaction portal for credentialed principals, lenders, brokers, and counsel engaged in the acquisition of this asset.

Total Units
23
Walk-Up · 3 Floors
HAP Budget
$307,898
Annual · FY2025
Effective
8/17/25
HAP renewal date
Invite-Only Live · v2.0

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EJM Offices
16-18 North Lorel Avenue · Chicago, IL 60644
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Section 8 Mod-Rehab · Contract IL002MR0002-0022

16-18 North
Lorel Avenue

Chicago, Illinois 60644 · Austin Community Area · CHA HAP Contract Renewal 2025

Total Units
23
1 BR · 19 × 2 BR · 3 × 3 BR
Annual Budget
$307,898
HAP Authority · FY2025
Effective Date
8/17/25
One-year renewal term
Contract Summary
Property TypeLow-Rise Walk-Up (3 Floors)
Year Built1928
Parcel ID16-09-321-026-0000
1 BR Contract Rent$935 / mo
2 BR Contract Rent$1,072 / mo
3 BR Contract Rent$1,450 / mo
Asking Price$2,100,000
Cap Rate~7.89%
OwnerEarl Jerome Malry
PHAChicago Housing Authority
Documents
Submit LOI
Property Visit
Messages
Lenders

Transaction Documents

XLS
January 2026 Rent Roll
LOREL_JANUARY_2026_RENT_ROLL.xls
Current tenant roster with unit assignments, lease terms, and monthly rent by unit.
NDA Required
XLS
2025 Operating Expenses
Lorel_2025_EXPENSES.xls
Full-year 2025 operating expense schedule including utilities, maintenance, and management fees.
NDA Required
XLS
Appliances Inventory
LOREL_APPLIANCES_updated.xls
Updated inventory of owner-furnished refrigerators and gas ranges by unit number.
PDF
HAP Contract Renewal 2025
2025_MOD_REHAB_CONTRACT_RENEWAL.pdf
Signed HUD Section 8 Moderate Rehabilitation HAP renewal contract effective 8/17/2025 through 8/16/2026.
Executed
DOC
Property Profile — Corrected
Lorel_Property_Profile_Wintrust_v2.docx
Institutional property profile for lender and investor review. Includes underwriting summary, rent roll, expense schedule, comp context, and investment highlights.
Updated May 2026
Letter of Intent

Submit a non-binding letter of intent to acquire 16-18 North Lorel Avenue, Chicago, IL 60644

* Required field

Offering Summary
Asking Price$2,100,000
Cap Rate~7.89%
GRM~6.8×
NOI (est.)~$165,700
HAP Budget$307,898 / yr
Occupancy100% (23/23)
HAP Status

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.

Schedule a Property Visit

All visits require 48-hour advance confirmation and executed NDA. Owner's representative present at all times.

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Property Details
Address16-18 N. Lorel Ave
City / StateChicago, IL 60644
Building TypeWalk-Up Low-Rise
Floors3
Entrances4
Year Built1928
Visit Policies
• 48-hour advance confirmation required
• Maximum 5 visitors per tour group
• NDA required before entry
• Photography permitted in common areas only
• Occupied units require 24-hr tenant notice
• Owner's rep present at all times
Transaction Messages

Secure communication channel for all parties. Messages are stored and visible to all credentialed parties.

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Parties in Thread
EJM
Earl Jerome Malry
Owner · EJM Offices
DC
Danny Crout Jr.
Asset & Capital Advisory · ATC Property
Additional credentialed parties will appear here as they access the portal.
Quick Actions

Activity Log

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Portal Summary
6
Documents
Messages
Activities
0
LOIs Received
Transaction Timeline
HAP Renewal Executed
Aug 2025
HQS Inspection Passed
2025
Portal Live · Offers Open
May 2026
LOI Deadline — TBD
TBD
HAP Contract Expiry
Aug 2026

Admin Panel

Admin Access
Registered Users
All credentialed parties with portal access
Add New User
Issue credentials to a new party
Portal Statistics
Live data from Supabase
Seed Welcome Message
Post the initial owner welcome message if not yet present

This posts Earl Malry's welcome message to the Messages thread. Run once on first setup only.

Platform Metrics

◈ Capital Atlas V1
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Deal Health Score
/100
Score Breakdown
Status
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Transaction Metrics — Is the deal moving?
Days on Platform
Since portal went live
LOIs Received
Total submitted
Qualified Buyers
Active in pipeline
Days to First LOI
From portal launch
Visit Requests
Total requested
Visits Confirmed
Scheduled & booked
Lenders Engaged
Package sent or beyond
Term Sheets
Received from lenders
Platform Metrics — Is the OS working?
Total Logins
All credentialed users
Messages Sent
All parties combined
Activity Events
Total logged actions
Registered Users
Credentialed parties
Doc Downloads
From activity log
Access Requests
Inbound interest
Avg Events/Day
Platform engagement rate
Platform Uptime
100%
Since launch
Lender Pipeline By stage
User Activity Breakdown Last 30 days
LOI SubmissionsAll received
Capital
Atlas
V1 Intelligence
Platform Intelligence Notes
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Lender Intelligence

Lenders Tracked
6
Community banks + CDFIs
Packages Sent
3
Awaiting term sheets
Best LTV Offered
80%
CDFI — affordable housing
Rate Range
6.75–7.50%
25-yr amortization
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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.

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