Building

2226 W Irving Park

2226 W Irving Park Rd · North Center Built 2001 20 units

Ownership

Syndicated

Occupancy

95.0%

19 of 20 units occupied

T12 NOI

$268K

Avg rent $2,310 · Cap 6.01%

Valuation

$4.5M

Equity $1.6M · LTV 65%

DSCR

1.34x

Covenant 1.20x · Buffer 12%

T12 NOI

Monthly NOI vs occupancy

Loan

Debt summary

Outstanding

$2,900,000

Rate

6.10%

Maturity

Nov 15, 2030

Months to maturity

53 mo

Annual debt service

$211K

DSCR (covenant 1.20x)

1.34x

Cash Flow

T12 levered waterfall

Trailing 12

Net Operating Income

$268,000

(less) Annual debt service

-$210,886

(less) T12 capex

-$16,800

Levered cash flow

$40,314

Available for distributions or capex reserve. Coordinate with waterfall before distributing.

Depreciation

Annual non-cash

$130K

Straight-line, 27.5 years (residential), on building basis of $3.6M.

Building basis (80% of value)

$3.6M

Useful life

27.5 years

Method

GAAP straight-line

Tax shield estimate (37%)

$48K

Cost segregation could accelerate ~20-30% to 5/7/15-year lives. Worth modeling before next refi to amplify the LP tax shield.

Rent Roll

Live unit detail

Sample rent roll only loaded for the demo building (1247 N Damen). AppFolio sync will populate the rest.

Capex

Capital projects

YTD $14KT12 $17K

Routine turnover and unit refresh costs. Standard run rate.

Open

$3K

Capex / unit / yr

$840

Documents

Linked files

Loan agreement

2226 W Irving Park Loan Agreement 2025.pdf

AI-parsed

Insurance

2226 W Irving Park Policy 2026.pdf

AI-parsed

PPM

2226 W Irving Park Operating Agreement.pdf

AI-parsed