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A series of cranes works to construct a large building project that was financed with a commercial real estate loan

Looking to mitigate risk and enhance opportunities? Get momentum for the long-term.


The Commercial Real Estate Team at First Midwest Bank is committed to providing high-quality financing solutions1 to the Chicago marketplace. Unlike other local financial institutions, we take 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 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-houseAll of our credit decisions are made locally by people who understand the marketplace.  

We take your deadlines seriously and adhere to all time constraints. We keep you apprised early in the process of the types of financing solutions we can provide to grow your business. 

Our Relationship Managers average more than 20 years of experience in commercial real estate lending. 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 
  • Minneapolis/St. Paul Minnesota

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.1

Investment Type: First Mortgage
Sponsorship: Experienced with demonstrated track record in asset class
Transaction Size: $500,000 - $25MM
Loan-to-cost Not to exceed 85% of project costs
Loan-to-value Not 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 200-350 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:  Negotiable

Get Connected 

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

Heidi Smithson


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1 Subject to credit approval.  If the security interest is property, property insurance will be required.
Subject to credit approval. If the security interest is property, property insurance will be required. In California, loans made or arranged pursuant to a California Finance Lenders Law license.