Chicago Illinois, Bridge Financing/Rehab Loans

At Bridge Loan Store, we have specialized in fast funding commercial bridge loans since 1997. Bridge loans are used to finance buildings that are in need of remodeling or rehabilitation or are not stabilized (meaning they have lower than market occupancy and/or income). Our Multifamily Bridge loans typically have a term of one year to two years with rates starting in the five percent range for stronger borrowers and properties with a 30-day closing, and rates starting at 9.00% for borrowers that have lower credit scores, lower liquidity, net worth or have properties that are in need of major rehab. We can close a bridge loan in as little as 2 weeks. If you are looking for a value-added building to purchase where you are obtaining it for well under its value, we can get you pre-approved so that you can buy properties sold at auction.  

Almost all our bridge loans have interest-only payments. In many cases there will not be a pre-payment penalty. But some commercial bridge programs require that the loan be taken out for a minimum of 6 to 12 months, and if you pay the loan off prior to that period you have to pay the remaining interest. In many cases a payment reserve (an escrow account from the loan proceeds or your money used to make the loan payments) will be used if net income from the property is insufficient to make the payments.

Occasionally a bridge loan is used for a new multifamily construction when the borrower has difficulty getting approved for a conventional construction loan.

Bridge Loan Programs

Platinum Bridge Program
Rates starting at 5.00%, 2-year term and loan to stabilized appraised value up to 75%. Available to higher net worth, higher liquidity investors or for properties that are doing well but just need some remodeling. Time for closing is 30-45 days.

Gold Bridge Program
Rates in the 4.50% to 5.00% range, this loan is for properties in good neighborhoods. Perhaps the property has not been managed well and is just below market occupancy. Or perhaps the property needs some remodeling and repair. This loan has a 30-year amortization, can be fixed for 5 or 10 years, and can be your perm loan as well.

Premium Bridge Program
Rates starting at 6.50%, 1-2 year term and loan to stabilized appraised value up to 75%. This loan is made primarily to the real estate and requires moderate borrower financial strength. Can be used to purchase value-added commercial real estate that needs some rehab at auction. Time for closing 2 to 3 weeks.  

Standard Bridge Program
Rates starting at 9.00%, 12- to 18-month term, and loan to value of 65% to 70%. This loan is made primarily to the real estate and can be used for construction, rehab or purchasing value-added commercial properties. Time for closing 2 weeks or less.

Structured Equity Program
This program can lend up to a combined LTV of 85% with a 75% first mortgage and a 10% second mezzanine debt, preferred equity or joint venture equity.  

Note Purchase Loan Program 
This program allows the borrower to purchase a mortgage note on a non-performing property. After the subject property is foreclosed upon, the note purchase loan will convert to a bridge loan until the property is performing well and stabilized.

About the Chicago, Illinois Real-Estate Market

As of February 15, 2015, Chicago commercial office realty market trends data shows that the median asking price for sale is $125.21 per square foot. This is an increase of 5.5% if it is compared to the past three months, and an increase of 6.5% if it is compared to year over year.

To find commercial property for sale in Chicago, Illinois, go to Click on left side box, and then choose industrial, hotel and motel, senior housing, land ,office, retail, etc. In right side box, select Chicago, Illinois.

Also, as of February 15, 2015, the Chicago commercial retail realty market trends data shows that the median asking price for sale is $123.33 per square foot. This is a decrease of 1.4% if it is compared to the past three months, and a decrease of 1.2% if it is compared to year over year.

Chicago, Illinois is the number 3 largest most populous city in the United States, with New York City being number 1, and Los Angeles being number 2. Chicago is in Cook County, and is it’s county seat. It is internationally renowned for transportation, finance, industry, commerce, and other things. It is a multiple cultural city that is strongly diverse as well as having good harmony concerning its neighborhoods.

A source to search for plenty of in-depth knowledge on the commercial property industry is Commercial Investment Real Estate Magazine (CIRE Magazine) – Click on and then click on “Current Issue” or “Archives.” You can find quite a few selections to look at on various kinds of commercial property.

Bridge Loan Store is proud to serve the entire Greater Chicago Area:

  • Cicero
  • Oak Park
  • Berwyn
  • Forest Park
  • River Forest
  • Elmwood Park
  • Lincolnwood
  • Lyons
  • Maywood
  • River Grove
  • Summit
  • Evergreen Park
  • Evanston
  • Norridge
  • Melrose Park




Other Cities in Illinois served by Bridge Loan Store

  • Chicago 
  • Aurora 
  • Rockford 
  • Joliet 
  • Naperville 
  • Springfield 
  • Peoria 
  • Elgin 
  • Waukegan 
  • Cicero 
  • Champaign 
  • Bloomington 
  • Decatur 
  • Arlington Heights 
  • Evanston 
  • Schaumburg 
  • Bolingbrook 
  • Palatine 
  • Skokie 
  • Des Plaines 
  • Orland Park 
  • Tinley Park 
  • Oak Lawn 
  • Berwyn 
  • Mount Prospect 
  • Wheaton 
  • Normal 
  • Hoffman Estates 
  • Oak Park 
  • Downers Grove 
  • Glenview 
  • Belleville 
  • Elmhurst 
  • DeKalb 
  • Moline 
  • Lombard 
  • Buffalo Grove 
  • Urbana 
  • Bartlett 
  • Crystal Lake 
  • Quincy 
  • Streamwood 
  • Carol Stream 
  • Romeoville 
  • Plainfield 
  • Rock Island 
  • Hanover Park 
  • Carpentersville 
  • Wheeling 
  • Park Ridge 
  • Calumet 
  • Addison 
  • Glendale Heights 
  • Pekin 
  • Northbrook 
  • Elk Grove 
  • Danville 
  • St. Charles 
  • Woodridge 
  • North Chicago 
  • Galesburg 
  • Gurnee 
  • Mundelein 
  • Oswego 
  • Chicago Heights 
  • Algonquin 
  • Granite 
  • Niles 
  • Highland Park 
  • Lake in the Hills 
  • Burbank 
  • Lansing 
  • O'Fallon 
  • Round Lake Beach 
  • Oak Forest 
  • Alton 
  • Kankakee 
  • Glen Ellyn 
  • Wilmette 
  • West Chicago 
  • East St. Louis 
  • McHenry 
  • Batavia 
  • Carbondale 
  • Freeport 
  • Belvidere 
  • Collinsville 
  • Melrose Park 
  • Harvey 
  • Vernon Hills 
  • Elmwood Park 
  • Lockport 
  • Woodstock 
  • Westmont 
  • Zion 
  • New Lenox 
  • Edwardsville 
  • Huntley 
  • Homer Glen 
  • Rolling Meadows 
  • Maywood 
  • Loves Park 
  • Blue Island 
  • Machesney Park 
  • East Peoria 
  • Morton Grove 
  • Dolton 
  • Roselle 
  • Lisle 
  • Darien
  • South Holland 
  • Bloomingdale