Mezzanine Loans in Illinois
Browse 8 lenders offering mezzanine loans in Illinois. Compare rates, requirements, and loan programs — then connect directly.
Mezzanine Lenders in Illinois
8 lenders offering mezzanine loans to borrowers in Illinois.
Acore Capital
New York, NY
Commercial real estate finance company providing bridge, mezzanine, and preferred equity. $20B+ in originations. Institutional-quality deals.
CBRE Capital Markets
Dallas, TX
Global CRE services and capital markets. Arranges debt and equity for all commercial property types.
Goldman Sachs
New York, NY
Major CMBS conduit originator. Large-scale commercial mortgage financing and mezzanine debt.
Greystone
New York, NY
Full-service commercial real estate lending platform. Agency, bridge, mezzanine, and permanent financing. Top Freddie Mac and FHA lender.
JLL Capital Markets
Chicago, IL
Global commercial real estate services firm. Debt placement, equity advisory, and investment sales across all property types.
LoanCore Capital
Hartford, CT
Transitional commercial real estate lender. Bridge and mezzanine debt for value-add and repositioning strategies.
Morgan Stanley
New York, NY
Top CMBS originator. Large commercial real estate lending and securitization.
Walker & Dunlop
Bethesda, MD
Major commercial real estate finance company. Multifamily specialist. Agency, bridge, and mezzanine lending.
About Mezzanine Loans in Illinois
Mezzanine financing sits between senior debt and equity in the capital stack. It allows borrowers to increase leverage beyond what a first mortgage provides, reducing the equity needed for a deal. Secured by a pledge of the borrower's ownership interest rather than a lien on the property. In Illinois, 8 lenders currently offer Mezzanine financing with loan amounts from $1M to $100M and rates typically ranging from 10% - 18%.
Illinois Market Overview
Illinois benefits from Chicago's role as a global financial center and the nation's primary inland logistics hub, with O'Hare Airport and extensive rail infrastructure. The state has one of the most diversified economies in the country.
Illinois has some of the highest commercial property tax rates in the nation, particularly in Cook County, where the assessment methodology for commercial properties applies a higher multiplier than residential, significantly impacting NOI. Cook County's triennial reassessment cycle and appeals process are critical for CRE investors to understand, as successful appeals can materially improve returns. Chicago's 140+ Opportunity Zones and numerous TIF districts offer substantial tax incentives, and the city's affordable rents relative to coastal gateway cities have attracted growing tech and life sciences tenants.
Who Should Consider Mezzanine Loans?
- Reducing equity requirement
- Large acquisitions
- Development projects
- Recapitalizations
Key Requirements
- Strong sponsor track record
- Viable business plan
- Senior lender approval for subordinate debt
- Adequate debt service coverage for total debt
Pros and Cons
Advantages
- ✓Reduce equity needed
- ✓No lien on property (pledge of ownership)
- ✓Flexible structures
- ✓Can be interest-only
Considerations
- •High interest rates
- •Subordinate position = higher risk
- •Requires senior lender approval
- •Complex documentation
Mezzanine Loans FAQ
How does mezzanine differ from a second mortgage? ▼
Mezzanine Loans by City in Illinois
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