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Chicago Fix & Flip / Bridge Loans

Fix and Flip Lender in Chicago

CoreVest works with seasoned real estate investors on funding fix and flip loans / bridge loans for Chicago distressed properties. With a bridge loan from CoreVest, investors can get access to funds immediately with loans up to 90% of cost. Whether you need fix and flip financing for single family rentals, condos, townhouse or multi-family units, CoreVest is your leading lender in the state of Illinois.

With our fix and flip credit line, you can have reliable funding to purchase new rental properties or refinance your existing portfolio of investments. When you need access to capital quickly, this product might be the answer for your next loan. The Chicago market is booming right now and many fix and flip investors have successfully leveraged their capital with CoreVest. CoreVest is the leading private property lender for fix and flip/bridge loans in Chicago, IL with over $4 billion in loans closed since the companies existence.

CoreVest actively lends fix and flip bridge loans for rental properties throughout IL – Aurora, Peoria, Rockford, Joliet, Naperville, Chicago and all other major cities in Illinois.

Fix & Flip Loans Custom Built for Chicago Investors

Whether you buy and hold or fix and flip in Chicago, CoreVest has the capital for your investment needs

Broker Loan, Credit Line

Credit Line

  • 1-500+ properties

  • Single-family, 2-4 units, condos, townhomes, multifamily

  • $100K - $50M

  • Up to 90% of cost

  • Fixed and floating rate options

  • 18-24 month terms

  • Revolving credit options available

  • Renovation financing available

  • Foreign nationals eligible

  • Nationwide lending
Single Project

Single Project

  • Individual properties

  • Single-family, 2-4 units, condos, townhomes, multifamily

  • $95K - $5M

  • Up to 90% of cost

  • Fixed rates

  • 12-24 month terms

  • Purchase or refinance

  • Renovation financing available

  • Foreign nationals eligible

  • Nationwide Lending

Questions About The Chicago Market?

Peter Pelafas
Chicago Territory Executive
P: 312.724.8785

Chicago Market Trends
  • Stable inventory of distressed assets within the desired target price range
  • Growing demand for newly renovated affordable housing for owner occupants
  • Over 50% of the population of Chicago rents. Chicago has an incredibly deep pool of potential renters at all levels of the market.
  • Rent for a 2 bedroom apartment is now $2,254 per month.
  • 3rd largest MSA in the nation with over 9MM population base
  • The 2019 median home value in Chicago is projected to increase 3.9% to $241,145 *

*Housing Price Forecasts, 2019 – Regional Economics Applications Laboratory, Institute of Government and Public Affairs University of Illinois December, 2018

Chicago Rental Market Updates

Chicago Bridge Loans - Frequently Asked Questions

What Property Types does CoreVest Finance lend on in Chicago for investment properties?
We lend on single family homes, condos, townhouses, 1-4 unit residences and small multi-family assets.

What are CoreVest Finance’s Fix & Flip Rates for Chicago?
CoreVest Finance in Chicago has interest rates starting at 8% for investment property rental loans. Rates vary due to investor’s past history and experience. For current Chicago rates, give us a call.

Does CoreVest finance rehab expenses and ground up construction in Chicago?
We finance certain Chicago rehab expenses under our Fix and Flip Bridge Loans. We also offer Ground Up Construction loans to qualified investors throughout IL.

What is the minimum number of rental properties needed for a Rental Portfolio Loan in Chicago?
For our Rental Portfolio Loan, we require a minimum of 5 properties. We also offer a single asset rental loan on individual properties in Chicago.

What is the minimum/maximum loan amount for fix and flip loans in Chicago?
CoreVest Finance rental loans vary from $95k – $5 Million.

What is my turnaround time for an application?
We usually respond back to potential Chicago borrowers with a term sheet between 2-7 days.

How long will it take my Loan to close?
Our Single Asset Bridge loans typically close within 10 days. Most of our Chicago Rental Loans close within 4-6 weeks.

Why Partner with CoreVest to Fund Your Next Fix & Flip Loan?

Experienced – we know your business.

We have partnered with thousands of borrowers to finance residential investment properties across the nation.

Efficient – we get the deal done.

Our streamlined closing process and dedicated support allows you to focus on your business, not our paperwork.

Efficient – we get the deal done.

Our streamlined closing process and dedicated support allows you to focus on your business, not our paperwork.

Chicago Fix and Flip Market Rates from CoreVest Finance
Types of PropertiesSingle family homes, Condos, Townhouses, 1-4 unit residences, Small multi-family assets
Loan Amount$95k to $5 million
LTVStarts at 80%
Interest RatesStarts at 8%
Minimum Qualifications / DocumentationCredit score: at least 620, Borrower must be a business entity, Call for more details
Other Financing AvailableRental Portfolio Loan, Single Asset Rental Loan, Bridge Loans, Fix and Flip Credit Line, Rental Aggregation Line, Single Asset Bridge Loan
*Exceptions may be granted due to borrower history and experience. Call for details.

"As a Chicago resident and real estate practitioner for over a decade, I am delighted to represent CoreVest American Finance as a Correspondent Lender for the Illinois market. CoreVest is the premier liquidity provider for small and middle market developers and long term investors with a deep understanding and commitment to the space. The dynamic Chicago real estate market requires a "boots on the ground" approach to underwriting and execution, and the BlackSquare - Corevest relationship provides it. ”

– Thom Kraley, Chicago Territory Executive

For more information on Chicago fix and flip loans, please call Thom Kraley at 312.724.8785, fill out the form below or email

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