Chicago Commercial Real Estate Financing

Chicago is the third-largest U.S. metro and one of the most institutional commercial real estate markets in the country, anchored by the nation's largest inland intermodal logistics hub, a deep financial services sector, and one of the most liquid multifamily markets in the Midwest. Office-to-residential conversion in the Loop has emerged as a major bridge and construction lending category, creating unique value-add opportunities for experienced sponsors.

Commercial Lending Solutions brings institutional-level financing to the Chicago market through a network of over 1,000 capital sources. Whether you are acquiring institutional multifamily in Streeterville, building an intermodal distribution center in Joliet, or repositioning a Loop office building through adaptive reuse, we create competition among lenders for your deal and deliver better rates, higher leverage, and more flexible terms.

Chicago Market Highlights

Intermodal logistics hub: Largest inland intermodal market in the United States, served by six Class I railroads and major highway corridors through Joliet and Will County
Institutional multifamily: Chicago's multifamily market is one of the deepest in the country, with institutional buyers, agency lenders, and life companies highly active
Financial services anchor: Home to CME Group, CBOE, major banks, and one of the largest concentrations of private equity in the country, supporting Class A office
Adaptive reuse: Loop office-to-residential conversions are one of the most active bridge and construction lending categories in the country
Value relative to coasts: High-quality multifamily and office at attractive cap rates compared to gateway markets, drawing institutional capital from across the country

Key Chicago Submarkets We Finance

The Loop / River North, Class A office, hospitality, mixed-use, adaptive reuse
West Loop / Fulton Market, creative office, multifamily, experiential retail
Streeterville / Gold Coast, institutional multifamily, medical office, luxury retail
Lincoln Park / Lakeview, multifamily, retail, neighborhood mixed-use
Joliet / Will County / I-80 corridor, intermodal industrial, warehouse, distribution
O'Hare industrial corridor, airport-adjacent distribution, cold storage
South Loop / McCormick Place, hospitality, multifamily, mixed-use
Schaumburg / Oak Brook / suburban corporate, corporate office, multifamily, retail

Loan Programs

Permanent Loans

5.50%, 7.50% | 5-30 yr terms

Long-term fixed and adjustable-rate financing for stabilized Chicago properties. Agency, CMBS, bank, life company, and credit union execution.

Bridge Loans

8.00%, 11.00% | 12-36 months

Short-term financing for Chicago acquisitions, value-add multifamily, and lease-up properties. Close in as little as 2-4 weeks.

Construction Loans

7.00%, 10.00% | 12-36 months

Ground-up construction for multifamily, industrial, and mixed-use projects across the Metroplex.

SBA 504 / 7(a)

5.75%, 6.75% | 25 yr terms

Owner-occupied commercial properties in Chicago. As little as 10% down with below-market fixed rates for qualifying businesses.

Mezzanine / Pref Equity

10%, 15% | Custom terms

Subordinate financing to reduce equity requirements on larger Chicago transactions. Bridge the gap between senior debt and your equity.

CMBS Loans

5.75%, 7.25% | 5-10 yr terms

Non-recourse conduit financing for larger Chicago commercial properties. Competitive fixed rates with higher leverage.

Property Types We Finance in Chicago

Multifamily

Industrial

Retail

Office

Mixed-Use

Hospitality

Self-Storage

Medical Office

Data Centers

Mobile Home Parks

How It Works

Tell Us About Your Chicago Deal

Fill out the form or call us with your property details, loan amount, and timeline. We respond within 24 hours.

We Shop Your Deal

We present your deal to lenders active in the Chicago market and collect competing term sheets. You review and select the best option.

We Close Your Loan

We manage the full process, underwriting, appraisal, legal, title, and coordinate everything through funding.

The Commercial Lending Solutions Advantage

Access to 1,000+ lenders, banks, credit unions, life companies, CMBS, debt funds, and private lenders
Active lender relationships in the Chicago and across Illinois
One application, multiple competing term sheets
No upfront fees, we only get paid when your loan closes
Institutional-level execution with personal, one-on-one service
Deep expertise across all major commercial property types and loan programs
Over $1 billion in commercial loans closed nationwide

Prefer to talk? Call the broker directly.

310.758.4042

Trevor Damyan · Mon-Fri 9am-5pm PT

Get Your Chicago Commercial Loan Quote

Fill out the form below. We respond within 24 hours.

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Loan Amount

Property Type

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Deal Details

Or use our full application · Call 310.758.4042

FAQ

Chicago Commercial Loan Questions

We finance all major commercial property types across the Chicago market: multifamily apartments, industrial warehouses and distribution centers, retail centers, office buildings, mixed-use developments, hospitality properties, self-storage facilities, medical office, data centers, and mobile home parks. Our network of 1,000+ lenders includes many who are highly active in the Illinois market.

Absolutely. Chicago's intermodal logistics corridor, centered on Joliet and Will County with six Class I railroads, is the largest inland intermodal market in the country. Our lender network includes specialists in large-format distribution, cold storage, and truck terminal properties serving the national logistics map. We also finance the O'Hare-adjacent industrial corridor serving airport cargo and last-mile distribution.

As of early 2026, commercial mortgage rates in Chicago vary by loan type: permanent loans range from approximately 5.50% to 7.50%, bridge loans from 8% to 11%, SBA 504 loans from 5.75% to 6.75%, and construction loans from 7% to 10%. Chicago's strong fundamentals, population growth, job creation, and low vacancy, often help borrowers qualify for more competitive terms. Contact us for a rate quote specific to your deal.

Our headquarters are in Los Angeles, but we arrange commercial loans nationwide across all 50 states. Chicago is one of our most active markets. Our national lender network of 1,000+ sources includes numerous banks, life companies, and debt funds that are actively competing for Chicago deals, which means we can often secure terms that a local broker with a smaller lender roster cannot.

No. There is no upfront cost for a consultation or loan quote. Our brokerage fee is earned at closing when your loan funds, meaning our interests are aligned with yours, we don't get paid unless you get financed.

Important Loan Disclosures

Representative Example: An $8,000,000 permanent commercial mortgage at a 6.75% fixed rate with a 10-year term and 30-year amortization would have an estimated monthly principal and interest payment of approximately $51,900. Total amount repayable over the 10-year term: approximately $6,228,000 (balloon balance due at maturity). This example is for illustrative purposes only; your actual rate, payment, and terms may differ.

Rate Range: Commercial mortgage rates currently range from approximately 5.85% to 7.50%, depending on loan type, property type, leverage, borrower qualifications, and market conditions at the time of funding.

Fees: Origination fees typically range from 0.5% to 2.0% of the loan amount. Additional costs may include appraisal ($3,000-$10,000), legal fees ($5,000-$15,000), title insurance, environmental reports, and third-party inspections. All fees will be disclosed in writing before loan commitment.

Loan Terms: Commercial mortgage terms range from 5 to 30 years with 25-30 year amortization schedules. Maximum loan-to-value (LTV) up to 75% for most programs. Loans may be recourse or non-recourse depending on the program and lender. Prepayment penalties may apply.

Risks: Commercial real estate loans carry inherent risks including but not limited to: property value decline, interest rate changes, inability to refinance at maturity, tenant vacancy, and potential loss of invested equity or the property itself. Borrowers should consult with qualified financial, legal, and tax advisors before committing to any loan.

Broker Disclosure: Commercial Lending Solutions (Commercial Lending Solutions) is a commercial mortgage brokerage, California DRE License #02244836. Commercial Lending Solutions does not make loans directly. All loans are originated and funded by third-party lenders. Commercial Lending Solutions receives compensation from the borrower, the lender, or both upon successful loan closing. Commercial Lending Solutions is not affiliated with or endorsed by any specific lender.

Commercial Mortgage Loans in Chicago