Home / Fix-and-flip loans / Chicago, IL

Fix-and-flip loans in Chicago, IL

Short-term purchase and rehab loans for experienced investors in Chicago and the surrounding suburbs.

Financing Chicago renovations

Fast Flip Capital is a national fix-and-flip lender headquartered in Massachusetts, and we finance renovation projects across Chicagoland. The city's large stock of older brick homes gives flippers plenty of projects, from cosmetic updates to full gut rehabs.

What investors buy in Chicago

  • Two-flats and three-flats. These classic Chicago walk-ups are common across the North, Northwest and South Sides and fit our 2–4 unit program.
  • Bungalows. Brick bungalows in neighborhoods like Portage Park, Jefferson Park, Belmont Cragin, Chatham and Beverly are popular single-family flips.
  • Greystones and frame worker's cottages in areas such as Logan Square, Avondale, Bridgeport and McKinley Park.

Chicago and Cook County considerations

  • Permits. The Chicago Department of Buildings issues renovation permits. Some smaller scopes may qualify for streamlined review, but structural, electrical, plumbing and mechanical work needs permits and licensed trades.
  • Landmark districts. Properties in Chicago landmark districts need exterior work reviewed by the Commission on Chicago Landmarks.
  • Property taxes. The Cook County Assessor reassesses property on a rotating three-year cycle. Model post-renovation taxes into your holding costs and your buyer's numbers.
  • Closing requirements. Chicago sales require city transfer stamps, which involve confirming water and other city charges are paid. Start the process early so it doesn't delay your sale.

How our loans fit Chicago deals

Chicago flips often combine moderate purchase prices with substantial rehab budgets. Up to 100% of the rehab can be financed on the standard program, and top-tier investors can qualify for up to 100% financing (rehab financed up to $200K), subject to location requirements, ARV limits and approval.

  • Single-family, 2–4 unit, condo and townhome flips
  • Up to 90% of purchase and up to 100% of rehab (standard program)
  • Up to 100% financing for top-tier investors with 10+ completed flips (rehab financed up to $200K)
  • Draws released after third-party inspection
  • No prepayment penalty
Location requirements: Properties in Chicago and much of Cook County carry additional underwriting requirements, generally including stronger credit, a verified track record and loan-size limits. First-time flippers typically aren't eligible in these areas. Leverage varies by location, so send us your deal and we'll confirm what's available.

Chicagoland communities we serve

  • Evanston
  • Skokie
  • Oak Park
  • Berwyn
  • Cicero
  • Des Plaines
  • Arlington Heights
  • Naperville
  • Aurora
  • Joliet
  • Elgin
  • Waukegan

Fast Flip Capital is a national lender. We finance fix-and-flip projects in most U.S. states. See where we lend.

These notes are general information for investors, not legal advice. Local rules change, so confirm permit, inspection and disclosure requirements with the municipality and your attorney before you buy.

Flipping in Chicago?

Send us your numbers and get a term sheet. No property address required.

Get a Term SheetCall (413) 313-6174