Firm placed 20 of 22 loans with banks, led by a $19.6 million River North office-to-residential conversion

CHICAGO, Oct. 13, 2026 (GLOBE NEWSWIRE) -- Essex Capital Markets, a Chicago-based commercial real estate debt and equity advisory firm, closed 22 transactions totaling $73.4 million in the third quarter of 2026.

The transactions encompassed 293 units, ranging from $785,000 to approximately $19.6 million.

The largest closing was 226 W. Ontario St., a 70-unit River North office-to-residential conversion financed with a floating-rate community bank loan. The second-largest was a $14.5 million short-term, fixed-rate private loan for 691 N. Milwaukee Ave., a 35-unit River West property.

Additional highlights included:

  • 2254 N. Sawyer Avenue (Logan Square): $5.65 million, 23 units – fixed-rate permanent loan from a regional bank
  • 1035 W. Byron Street (Lakeview): $3.4 million, 15 units – fixed-rate permanent loan from a regional bank
  • 501 Basil Road (Lake Bluff): $2.875 million, 24 units – fixed-rate permanent loan from a national bank
  • 2323 W. Grand Avenue, Phase 1 (West Town): $2.655 million – floating-rate land loan from a community bank for a planned ground-up multifamily development

“What stands out most this quarter is how many sponsors trusted us with important transactions. Debt is often the largest piece of the capital stack, and that responsibility has only grown as rates have climbed and financing has tightened. We are grateful to our clients for that trust, and to the lenders who helped get these deals closed,” said Director Quinn Keenan.

ECM completed eight transactions in July, eight in August and six in September.

“In this rate environment, the advisor you pick is the difference between a capital stack that closes and one that actually works for the sponsor. The Keenan-Motew team is building its name in Chicago real estate one closing at a time,” said Director Asher Motew.

About Essex Capital Markets

Essex Capital Markets, LLC is a Chicago-based commercial real estate financing and advisory firm that arranges debt and equity for mid-market and institutional investors and developers. Launched in 2024 as part of the Essex companies, which includes Essex Realty Group, Chicago’s leading mid-market multifamily brokerage since 1990, ECM sources and structures financing for acquisitions, refinancings and development projects across all property types.

Media Contact

Mary McGinnis
515.480.7414 
mary@essexrealtygroup.com
2718 W. Roscoe St., Suite 100A
Chicago, Illinois 60618
www.essexcapitalmarkets.com