Cambridge Realty Capital Companies reports arranging a $3,262,400 HUD loan to refinance McGill Terrace, a 48-unit apartment building located in Chicago, IL. Jeffrey A. Davis, Cambridge President, said the fully-amortized, 35-year loan was arranged for the owner, an Illinois limited partnership, using the HUD Section 207 pursuant to Section 223(f) funding program. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans.
McGill Terrace is located in the Bronzeville area of Chicago. It affords convenient access to shopping, schools and recreation in the immediate neighborhood. Apartment styles in the 1916 three-story, gated building range from studio to 3-bedroom floor plans.