Multifamily · Chicago, Illinois
6515-27 N Seeley Ave
6515-27 N Seeley Ave is financed with a $4.2M CMBS loan at 4.001% that reaches maturity on May 6, 2031, in 4 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $4,225,000
- Original balance (same notes)
- $4,225,000
- Interest rate
- 4.001% fixed
- Originated
- April 9, 2021
- Maturity
- May 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ended
- May 5, 2024
- Prepayment premium ends
- February 5, 2031 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Sabal Capital II, LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 6515-27 North Seeley Avenue, Chicago, IL 60645
- Metro
- Chicago-Naperville-Elgin, IL-IN
- Units, rooms or beds
- 26
- Built
- 1961, renovated 2020
- Value at securitization
- $6.5M (Feb 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.14x | 1.66x |
| Occupancy | 100% | 92% |
| Net operating income | $367K | $284K |
| Debt yield | 6.7% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the BBCMS Mortgage Trust 2021-C11 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 100% when the loan was securitized to 92%.
- Net operating income is 22% below the underwritten figure ($284K a year against $367K).
- Debt service coverage moved from 2.14x at securitization to 1.66x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $4.2M | Current | No | 1.66x | 92% |
| August 2026 | $4.2M | Current | No | 1.66x | 92% |
| July 2026 | $4.2M | Current | No | 1.99x | 96% |
| June 2026 | $4.2M | Current | No | 1.99x | 96% |
| May 2026 | $4.2M | Current | No | 1.99x | 96% |
| April 2026 | $4.2M | Current | No | 2.17x | 96% |
| March 2026 | $4.2M | Current | No | 2.17x | 96% |
| February 2026 | $4.2M | Current | No | 2.40x | 88% |
| January 2026 | $4.2M | Current | No | 2.40x | 88% |
| December 2025 | $4.2M | Current | No | 2.40x | 88% |
| November 2025 | $4.2M | Current | No | 2.40x | 88% |
| October 2025 | $4.2M | Current | No | 2.50x | 88% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2021-C11 | 69 | $4,225,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Chicago-Naperville-Elgin loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One North Wacker | Chicago, IL | Office | $353.0M | 2.719% | Oct 2031 | 4.16x | 91% | Current |
| Harvard | Havard, IL | Industrial | $81.0M | 3.716% | Mar 2031 | n/a | n/a | Current |
| The Leo | Chicago, IL | Multifamily | $65.0M | 5.85% | Jun 2031 | n/a | n/a | Current |
| Meadowcreek | Melrose Park, IL | Manufactured housing | $60.0M | 5.98% | Apr 2031 | n/a | n/a | Current |
| Willow Glen | Willow Springs, IL | Multifamily | $58.0M | 6.263% | Jan 2031 | 1.06x | 94% | Current |
| Food4Less - Chicago Heights | Chicago Heights, IL | Retail | $47.0M | 3.165% | Jul 2031 | n/a | n/a | Current |
| Somerset I | Alsip, IL | Multifamily | $42.5M | 3.78% | Dec 2031 | n/a | n/a | With the special servicer |
| Mason Multifamily Portfolio | DeKalb, IL | Multifamily | $36.9M | 3.991% | Jul 2031 | 3.05x | 98% | Current |
All loans maturing in 2031 · All Chicago-Naperville-Elgin loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.