New construction lenders Chicago, IL

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LendingOne – Best New construction lenders near Chicago

LendingOne is a Illinois private money lender offering short-term mortgage loans to real estate investors in IL - AuroraChicagoJolietNapervillePeoriaRockford. Get a private money loan for a property purchase, refinance, equity cash out, rehab or new construction purchase.

New construction lenders
Up to 85% of Project Cost

LendingOne New Construction Loans can provide the cash you need to grow your real estate investment property portfolio:

  • Competitive financing for investors, builders and developers for the acquisition, development, or construction of ground-up properties
  • Fast approvals and closings for new construction projects

Advantages of our New Construction Loans Chicago

  • Loans from $250K to $10M
  • 12-24 Month Interest Only
  • Spec Development Allowed
  • Fast Approvals and Funding
  • Interest Reserves Can Be Built In

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New construction lenders near Chicago, IL

Our New Construction Loans are perfect for real estate investors, builders and developers seeking competitive financing for the acquisition, development, or construction of ground-up projects. Working with LendingOne for new construction projects gives investors near Chicago, IL the flexibility and capital to cover up to 85% of the project cost from single-family homes to larger multifamily properties.

New Construction Loan Terms Chicago
  • Up to 85% of Project Cost
  • Loans from $500k to $5M
  • 12-24 Month Term – Interest Only
  • Spec development allowed
  • Redevelopment, conversion and condo loans also permitted
  • Negotiable release prices on multi-asset projects
  • Interest Reserves can be built in
  • Nationwide Footprint
  • Fast approvals and funding since we are a non-bank
  • Eligible Properties: Single-family detached, condos, townhomes, multi-family

Chicago Hard Money Real Estate Market

Foreclosure Rates for Chicago, IL

Investors who want to find deals from foreclosure properties can consider these statistics to understand the Chicago real estate market for pre-foreclosures, auctions, and bank-owned properties.

Get 5 Steps Closer To Growing Your Fix and Flip Business near Chicago

  • Advice on searching for a property to fix and flip
  • Ways to get organized before beginning
  • What to expect during the project
  • Recommendations for when you’re ready to sell
Free Download
Fix and flip tips free eBook

Sales Prices for Chicago

Real estate sales in Chicago still support an active fix/flip market. You want to closely monitor your average days on the market because when you are flipping properties, this is the best indicator of how long it will take you to sell once the property is completed.

Rental Prices for Chicago

In every market around the country where we lend, rental yields will differ. In areas where average prices are higher rental yields will almost always be lower than markets with a lower average sale price. To determine your rental investment property yield you can take the average rental rate in the chart above and divide it by the average sale price.

Driving Factors for the Chicago Real Estate Market

Education: Chicago is home to one of the highest educated workforces in the country, greatly due in part to the surrounding top ranking schools in the Chicago, IL area.
Economy: Chicago’s top employers are driving growth in the real estate market including General Hospital.
Businesses: According to the Chicago Chamber of Commerce, Leisure & Hospitality, Professional & Business Services, and Education & Health Services have seen high job and wage growth.