CMBS Loans in Chicago, IL
Find lenders offering cmbs loans in the Chicago, including Naperville, Schaumburg, Evanston, and surrounding areas. Compare rates, terms, and programs from 13 lenders.
CMBS Lenders Serving Chicago
13 lenders offering cmbs loans in the Chicago, IL area.
JLL Capital Markets
LocalChicago, IL
Global commercial real estate services firm. Debt placement, equity advisory, and investment sales across all property types.
Arbor Realty Trust
Uniondale, NY
Major CRE lender and REIT. Bridge, permanent, and agency financing. Specializes in multifamily and commercial properties.
Barclays
New York, NY
Active CMBS conduit originator. Commercial mortgage-backed securities for large CRE deals.
CBRE Capital Markets
Dallas, TX
Global CRE services and capital markets. Arranges debt and equity for all commercial property types.
Citigroup
New York, NY
Major CMBS conduit originator. Commercial mortgage lending for institutional-quality properties.
Deutsche Bank
New York, NY
Major CMBS originator. Large-scale commercial real estate debt and securitization.
Goldman Sachs
New York, NY
Major CMBS conduit originator. Large-scale commercial mortgage financing and mezzanine debt.
Janover
Boca Raton, FL
Commercial loan marketplace connecting borrowers with lenders. Multifamily and commercial property debt. Growing platform with competitive terms.
JPMorgan Chase
New York, NY
Major CMBS originator and commercial lender. Full range of CRE financing including conduit, agency, and balance sheet.
Morgan Stanley
New York, NY
Top CMBS originator. Large commercial real estate lending and securitization.
Newmark
New York, NY
Major CRE advisory firm offering debt and structured finance, investment sales, and capital markets services.
Northmarq
Minneapolis, MN
Full-service commercial real estate debt and equity platform. One of the largest privately held CRE finance firms in the US.
Wells Fargo
San Francisco, CA
Top commercial real estate lender. CMBS, balance sheet, agency, and SBA lending across all property types.
Chicago Commercial Real Estate Market
Chicago is the third-largest commercial real estate market in the U.S., with a downtown Loop and River North office market totaling over 150 million square feet, a sprawling suburban office landscape across the I-88, I-90, and Lake County corridors, and one of the nation's largest industrial markets centered on the I-55 and I-80 logistics corridors. Fulton Market/West Loop has emerged as the city's premier tech and creative office district, attracting Google, McDonald's relocated headquarters, Salesforce, and numerous venture-backed startups. The city's unmatched rail and intermodal infrastructure — six Class I railroads converge here — makes the Chicagoland industrial market essential for national distribution networks. The South and West Loop have seen substantial mixed-use and residential conversion as older office buildings adapt to changing demand.
Key Economic Drivers
- ●Fulton Market/West Loop tech and creative office cluster with Google and McDonald's HQ
- ●Six Class I railroad convergence and I-55/I-80 intermodal logistics hub
- ●O'Hare Airport modernization and adjacent suburban office and industrial parks
- ●Life sciences corridor expanding from the Illinois Medical District through University of Chicago
Market Insight
Cook County assesses commercial property at a 25% level of market value compared to 10% for residential, and when combined with the state equalization factor and local school district levies, effective commercial property tax rates in some Chicago neighborhoods exceed 4% of market value — among the highest in the nation.
CMBS Loans in Chicago, Illinois
Commercial Mortgage-Backed Securities (CMBS) loans are commercial mortgages that are pooled together and sold as bonds to investors. They offer competitive rates and non-recourse terms for larger stabilized properties, typically $2M and above. In the Chicago metro area, borrowers can access 13 lenders offering CMBS financing, including Naperville, Schaumburg, Evanston, and surrounding areas. Loan amounts typically range from $2M to $500M with rates from 5.5% - 8%.
Who Should Consider CMBS Loans?
- Large stabilized properties
- Borrowers wanting non-recourse
- Properties in major markets
- Long-term investors
Key Requirements
- Stabilized property
- DSCR ≥ 1.25
- LTV ≤ 75%
- Property in acceptable market
- No major deferred maintenance
Advantages
- ✓Non-recourse (no personal guarantee)
- ✓Competitive rates
- ✓Higher leverage possible
- ✓Rate lock at application
Considerations
- •Inflexible after closing
- •Expensive prepayment (defeasance/yield maintenance)
- •Cannot modify property or lease without servicer approval
- •Minimum loan size $2M+
CMBS Loans in Other Illinois Cities
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