Commercial Real Estate Lending
Our highly respected management team consists of seasoned professionals who have proven themselves as leaders
in the industry. Today First Bank/Illinois has emerged as one of the pre-eminent real estate lenders in
Illinois and throughout the United States. Our focus considers each unique deal separately and allows us
to take advantage of unique structural aspects or contrarian plays.
More importantly, with our compact management team and approval process, we are capable of executing
transactions quickly and efficiently, particularly when a unique deal requires special attention and
rapid turnaround.
Our focus is pre-development, development, acquisition/transition, and bridge lending. The following is a sampling of indicative deal terms:
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| Loan Size: | $2,000,000 to $15,000,000; we also have the capability of completing
larger transactions with participants.
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| Property Types: |
| Office | Special Use |
| Retail | Assisted Living/Congregate Care |
| Industrial | Land/Land Development |
| Multi-Family | Single Family Housing |
| Manufactured Housing | Condominiums |
| Hospitality | Self Storage |
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| Pricing: | Loans are priced on an individual basis consistent with the inherent
risk profiles. Pricing floats off of the Prime Rate, and typically includes a floor.
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| Fees: | Typically 1% to 2% of the loan commitment depending on risk profile and
term.
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| Recourse: | Nearly all transactions carry recourse.
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| Terms: | 1 to 3 year duration. Extension options are available depending on
the characteristics of the individual transaction.
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| Structures: | In addition to standard first mortgage structures, we will
consider a select number of second mortgage and/or mezzanine positions.
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| Amortization: | Typically interest-only. |
| Prepayment: | Typically without penalty or restrictions. |
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