Commercial Real Estate

First Midwest Bank’s Commercial Real Estate Team  is committed to providing high quality financing solutions1 to the Chicago marketplace. Unlike other local financial institutions, First Midwest takes a long-term view of commercial real estate lending. That is why we have continuously been an active lender, even during economic downturns. Our team of experienced and dedicated professionals knows what it takes to get your deal done.

  • We are accessible and accountable, providing you with one point of contact throughout the loan process; from application to approval to closing and beyond.
  • We are consistent and reliable, delivering what we promise with certainty of execution.  
  • We are streamlined and efficient, handling all underwriting and portfolio management in-house. What’s more, all of our credit decisions are made locally by people who understand the marketplace.
  • We take your deadlines seriously and adhere to all time constraints. If we cannot provide the type of solution you require, we will inform you early in the process. We value your time as we do our own.

Our Relationship Managers average more than 20 years of experience in Commercial Real Estate Financing. We serve our clients anywhere within First Midwest's expanding footprint - which currently includes:

  • Chicago metropolitan area
  • Northwest Indiana
  • Central Illinois
  • Quad Cities
  • Southeast Wisconsin

Loan Parameters

First Midwest is committed to meeting the needs of our clients and partners. The table below should help you better understand the guidelines we utilize when structuring a commercial real estate transaction.

Investment Type:First Mortgage
Sponsorship:Experienced with demonstrated track record in asset class
Transaction Size:$500,000 - $15MM
Loan-to-costNot to exceed 85% of project costs
Loan-to-valueNot to exceed 80% on a stabilized basis
DSC Requirements:Underwritten stabilized operations yielding a minimum 1.20 times. "As Is" operations yielding a minimum of 1.00 times for Value-Add loans
Index:Competitive rates either fixed over corresponding Treasuries or SWAP rates or floating over Prime or LIBOR
Target Pricing:Index plus 250-350 basis points
Term:Up to 120 months
Loan Fees:Up to 1%
Amortization:Interest only on Construction and Value-Add loans. Up to 25-year amortization on stabilized commercial properties and 30-year for apartments
Recourse:Full; partial recourse or recourse to an entity available on a case-by-case basis

Get Connected

Connect with a Commercial Banker to add a little momentum to your business today.

David Hall
(708) 831-7311

Heidi Smithson
(708) 831-7478

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