Updated about 4 years ago on . Most recent reply
Commercial Lenders in Chicago
Hi BP Chicago,
I have a mixed-use six unit property (3 store fronts, 3 apartments) I'm looking to obtain financing on. Financing has been a challenge as the as-is income does not produce an adequate DSCR. However, the property has been under utilized and getting rents on par with the market will yield a DSCR > 1.25.
Some lenders can get this done with 30% down, but I'd like to avoid that if possible. Does anyone have any good recommendations for commercial lenders in Chicago? The property is in Norwood Park.
Appreciate the help!