Chicago community banks

6 Replies

Hello,

Can anyone recommend a local community bank or any references on how to find some?  I am in Chicago in the Avondale neighborhood, so anything there or the surrounding neighborhoods.

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@Brie Schmidt

Short term- I am looking to see what they can offer me in regards to a home equity line of credit on my current home.  I will use this to fund part of a flip in Chicago.  

Long term- I am hoping to build a relationship and build a reputation with them for future investment opportunities.

My current strategy is to do flips and in the future move to flips and buy and holds all in my local Chicago neighborhoods.

Basically, I want to see and understand what they can offer me in comparison with the larger financial Institutions such as Chase, PNC, etc.  I've never done business nor held a account with a community bank so am not familiar with how they work.

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Some banks that think outside the box are Lakeside, First Eagle, Urban Partnership. Depending on where you plan on investing and the property type I'd look into CIC also.

@Alexander Chavez

Afternoon Alex! I'm also a new investor starting out in the Avondale area of Chicago. I was wondering, did you have any success with the banks mentioned above? I'm currently seeking a few banks to work with that are willing to help us refi out of our short term position into a longer term one.  

Thanks!

Any information from anyone else would also be greatly appreciated!

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