Looking to refi w/cash out (or sell) 6-Unit Apartment Building in Chicago. Below mark

[Adrian Cartis]

I have a 6 Unit Apartment Building in Chicago that I'm looking to refinance with cash-out - or sell.
(3) 2BD/1BA + (3) 1BD/1BA. Large units, DR/FR.
Commercial loan.
1 tenant being evicted, all the other apartments rented, below market rents. Waiting list for the 1 unit soon-to-be rented.
Brick Building.
8132-8134 S Maryland Ave, Chicago IL 60619.

[Devin Peterson]

Quote from @Adrian Cartis:

I have a 6 Unit Apartment Building in Chicago that I'm looking to refinance with cash-out - or sell.
(3) 2BD/1BA + (3) 1BD/1BA. Large units, DR/FR.
Commercial loan.
1 tenant being evicted, all the other apartments rented, below market rents. Waiting list for the 1 unit soon-to-be rented.
Brick Building.
8132-8134 S Maryland Ave, Chicago IL 60619.

Adrian, I would recommend either refinancing or selling. Not both at the same time. Most lenders will not fund if a property is listed for sale. What’s your next move with the sale or refinance? Do you have a plan of attack to use the capital immediately? It’s really a decision between interest paid or tax (if not 1031d) - happy to chat and discuss options available