Sentral Michigan Avenue
A multifamily property in Chicago, Illinois. Securitized in 1 CMBS deal in 2024.
$208.8MAppraised value (latest deal)
91.5%Occupancy
$10.4MUnderwritten NOI
5.0%Implied cap rate
- Address
- 808 South Michigan Avenue, Chicago, IL 60605
- Property type
- Multifamily · High Rise
- Year built
- 2019
- Size
- 479 Units
- Sponsor
- ICONIQ Residential Partners GP, LP
- Loan purpose
- Refinance
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| WFCM 2024-5C2 | 2024-11-19 | $208.8M | 91.5% | $10.4M | 5.0% | $6.6M | 36.1% | 2.43x | 424B |
Historical NOI reported in WFCM 2024-5C2
| Period ending | NOI |
|---|---|
| 8/31/2024 | $10.1M |
| 12/31/2023 | $10.4M |
| 12/31/2022 | $9.2M |
More CMBS properties in Illinois →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.