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Illinois Investment Property Loans

Private Investment Property Lender in Illinois

Rental property loans can help take your real estate investing needs to the next level. Whether you are financing a single asset for buy and hold or looking to refinance a portfolio of real estate assets, in Illinois, CoreVest can help. CoreVest has experience working with real estate investors throughout the state of Illinois.

As Illinois’s real estate market continues to explode, more and more investors are capitalizing on low entry real estate purchases. Obtaining capital from a traditional bank will only get you so far. As a private money lender, CoreVest can open up your opportunity to invest in more rental properties throughout Illinois including popular cities such as Chicago, Joliet, Naperville, Peoria, Aurora and Rockford.

CoreVest Finance is the leading private property lender for rental loans in Illinois with a total of over $3 billion in loans closed in company history.

Illinois investment property loans

CoreVest actively lends investment property loans for rental properties throughout IL – Chicago, Naperville, Oak Brook , Orland Park, Bolingbrook and all other major cities in Illinois.

Rental Property Loans Custom Built for Illinois Investors

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

Rental Portfolio Loans

Rental Portfolio Loan

  • 5+ rental properties

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

  • Stabilized (leased) portfolio

  • $500K - $100M

  • Up to 75% of value

  • Fixed rates

  • 5, 7, 10 year terms

  • Purchase or refinance

  • Non-recourse options available

  • Foreign nationals eligible

  • Nationwide lending
Single Rental

Single Rental Property Loan

  • Individual rental properties

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

  • Currently (or soon) leased

  • $67.5K - $1.9M

  • Up to 75% of value

  • Fixed rates

  • 30 year term

  • Purchase or refinance

  • Individual or LLCs

  • Foreign nationals eligible

  • Nationwide lending

Questions About The Illinois Market?


Peter Pelafas
Chicago Territory Executive
E: ppelafas@blksq.com
P: 312.724.8785

Illinois Rental 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

Illinois Rental Market Updates

Illinois Rental Property Loans - Frequently Asked Questions

What Property Types does CoreVest Finance lend on in Illinois 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 Investment Property Rates for Illinois?
CoreVest Finance in Illinois has interest rates starting at 5% for investment property rental loans. Rates vary due to investor’s past history and experience. For current Illinois rates, give us a call.

Does CoreVest finance rehab expenses and ground up construction in Illinois?
We finance certain Illinois 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 Illinois?
For our Rental Portfolio Loan, we require a minimum of 5 properties. We also offer a single asset rental loan on individual properties in Illinois.

What is the minimum/maximum loan amount for investment rental loans in Illinois?
CoreVest Finance rental loans vary from $100,000 – $50 Million.

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

How long will it take my Loan to close?
Most of our Illinois Rental Loans close within 4-6 weeks. Our Bridge Loans typically close within 3-4 weeks.

The Best Rental Property Investment Markets in Illinois

Since the recession, Illinois has been slowly rebounding to a thriving economy. With a high foreclosure rate comes large inventory for investment properties. Each of these cities below show positive signs of population growth, which will bring in new homebuyers and renters.

There are so many great opportunities for rental property projects in Illinois at the moment. CoreVest Finance can help you finance your next rental property loan.

Some of the best place to invest in rental properties are in the cities of Chicago, Naperville, Oak Brook , Orland Park, Bolingbrook.

Illinois - Investment Property Map Placeholder
Illinois - Investment Property Map

We provide rental property loans in all of the major metropolitan cities and counties in Illinois, including: Chicago, Joliet, Naperville, Peoria, Aurora and Rockford in IL.

Why Partner with CoreVest to Fund Your Next Rental Loan?

Experienced – we know your business.

We have partnered with thousands of bopwers 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.

Illinois Rental 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 investment rental loans, please call Thom Kraley at 312.724.8785, fill out the form below or email tkraley@blksq.com.

Together We Grow

CoreVest continues to grow with our borrowers and remain active participants in the industry

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