Home Buying in Chicago>Question Details

Riccardo War…, Real Estate Pro in Bolingbrook, IL

I have a client that wants to purchase a 9 unit building in Chicago. They have 40% to put down but the problem is they are Canadian citizens.

Asked by Riccardo Wardlow, Bolingbrook, IL Fri Jan 18, 2013

I am trying to find a commercial lender to do this deal. The purchase price is 139k. 40% down payment. Any help would be great.

Help the community by answering this question:


JIM Michaels’ answer
Also try calling http://www.unitedequity.us/our-team.htmlWieslaw (Wesley) Jura Vice President. NMLS ID 225274. Direct: 773-304-3412. Fax: 773-283-2788. Cell: 312-405-2404. wjura@unitedequity.us
0 votes Thank Flag Link Tue Jan 22, 2013
Sounds like your buyer needs a hard money lender http://www.selectfundingchicago.com/

Good luck/
0 votes Thank Flag Link Sun Jan 20, 2013
Let me clarify, if they're trying to finance the property with a personal guarantee, if it's a corporation that's housed here in the states, that's a different story but I get the impression that's not your situation.
0 votes Thank Flag Link Fri Jan 18, 2013
Most banks won't lend to anyone (commercial or residential) who aren't at least permanent residents. You'll have the most luck reaching out to a small local or regional bank who has more flexibility with how they'll spend their money. Big banks are usually looking for 1-2m+ commercial deals so your chances are much lower there but it's possible. As times change, in 3-5 years for instance, the answer to this question could be the opposite.
0 votes Thank Flag Link Fri Jan 18, 2013
Try calling Tony Lupescu, 708-351-6416.
0 votes Thank Flag Link Fri Jan 18, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer