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CHICAGO, IL, May 10, 2018 /24-7PressRelease/ -- The first project required $330,000 to yield cash-out proceeds to perform on-site improvements of a 10-unit multifamily residential building. Renovations implemented by the borrower include the following: custom framing, roofing, drywall, upgraded electrical and plumbing systems, as well as added flooring, paint finishes, carpentry and kitchen cabinets.
The second real estate transaction involved short term refinancing in the amount of $269,000 to take out existing distressed debt on a 3-story, multi-family apartment complex. The property is now set up for a potential sale and/or a permanent recapitalization.
Both properties provide affordable, attractive living space and are well located near numerous retail and restaurant options, adding real estate value to the Chicago area.
About CMN Funding:
CMN Funding, a division of CMN Real Estate Group Inc., is a financial services company that specializes in the needs of the commercial client. CMN is a full-service outlet for many types of commercial financing; our primary focus is to obtain funding for commercial real estate transactions.
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