Market Insights

Top Lenders in Chicago

This Bank Was the Top Commercial Real Estate Lender in Chicago in Q1 2017

The No. 1 commercial real estate lender in Chicago in Q1 2017 was Goldman Sachs, as CrediFi reported this month in its Chicago Lending Spotlight for the quarter.

Goldman topped the CrediFi Quarterly Ranking primarily due to its role as lead lender (along with Bank of America and Citigroup) in this year’s $1.02 billion financing of Willis Tower, the iconic Windy City skyscraper formerly known as Sears Tower.

Wells Fargo was the No. 2 Chicago lender in Q1 and has been a strong lender in Chicago’s commercial real estate market over the past year, originating over $2.5 billion over all of 2016 – more than the other top lenders of 2016, JPMorgan Chase and Goldman Sachs.

Wells Fargo issued one of 2016’s biggest CRE loans in Chicago: a $1.05 billion loan for an Illinois retail portfolio consisting of approximately 40 properties, including Chicago’s 4640 W. Irving Park Rd.

Top Lenders in Chicago

In addition to national banks like Goldman Sachs, Wells Fargo and JPMorgan, Chicago’s top 10 commercial real estate lenders in Q1 also include regional Chicago-area lenders like Lakeside Bank (No. 7) and First Midwest Bank (No. 9), along with insurance companies MetLife (No. 3), New York Life Insurance (No. 8) and Paris-based AXA (No. 10).

The rankings are part of the Q1 2017 CrediFi Lending Spotlight for Chicago, which is based on an analysis of $33 billion in commercial real estate financing from Q1 2016 through Q1 2017.

Another top Q1 lender is LoanCore Capital Credit REIT, an investment vehicle (along with Jefferies LoanCore) of privately held asset management firm LoanCore Capital. The real estate investment trust came in at No. 6 in the Q1 ranking, having originated over $100 million in commercial real estate loans in Chicago in Q1 2017.

To download the entire Lending Spotlight, click here.

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