Where is the best place to go to get a commercial real estate loan?

Jun 22, 2009 in Commercial Property Loans

I am looking to start a bar in Chicago, IL and I know the building that I want to acquire. I have a partner who is able to put 0-400K into the project but the building itself will cost between 0K-M to acquire and will require anywhere from 0K-200K to restore and convert. I would like to know the best place to go for a commercial real estate loan keeping in mind the significant funding we already have. I would like to limit the down payment to about 0-150K to keep the rest available for the bar itself. As a side note my personal credit score isn't fantastic (about 630). Also, the building is not currently a bar but an old theater so it will require remodeling, however they do hold a liquor license so it is properly zoned.

Thanks!

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2 comments

CHRIS M KERN on June 22, 2009 at 7:03 pm

A local "Chicago Bank" that does this type of financing is Park National Bank. The main Chicago Branch is at the intersection of Chicago and Clark.
just4success on June 22, 2009 at 7:03 pm

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