Illinois DSCR, Hard Money, Fix & Flip, Construction & Multifamily Loans
Illinois (IL) Underwriting Snapshot (BLUF): Wholesale business-purpose investment property loans in Illinois utilize Judicial (Illinois Mortgage Foreclosure Law) security instruments, with an average non-homestead effective property tax rate of 2.08%, a median 1–4 unit investment home price of $315,000 (median rent $2,650/mo), and 5+ unit multifamily market rents averaging $1,580/door. Arranged by Loan Daddy LLC (NMLS #2827624).
SECURITY INSTRUMENT
Judicial (Illinois Mortgage Foreclosure Law)EFFECTIVE PROPERTY TAX
2.08% Avg ($546/mo)MEDIAN 1–4 UNIT PRICE & RENT
$315,000 · $2,650/mo5+ UNIT MULTIFAMILY RENT
$1,580/door/moIllinois Pre-Populated Underwriting Terminal
1–4 Unit PITIA vs. 5–25+ Unit Commercial NOI Simulator
Loan Daddy LLC · NMLS #2827624 · AZ CMB #CMB-2016143 · Loans made or arranged pursuant to a California Financing Law license, #60DBO-218873 · Canonical Integer _cents & _bps Engine
Price/Door: $315,000·Loan/Door: $236,250·Avg Rent/Door: $2,650/mo
Prepayment Stepdown Structure
Amortization & FICO Tier
Calculated DSCR Coverage Ratio
1.22xCanonical:
122 bps · 7500 bps LTV · 6625 bps RateStandard Multifamily / DSCR Pass (1.15x–1.24x)
Loan Amount (75% LTV)$236,25023,625,000 _cents
Monthly P&I Debt Service$1,513/mo@ 6.625% Note Rate
Total Monthly PITIA$2,169/moTax: $546 · Ins: $110
Net Monthly Cash Flow+$481/mo$5,772/yr net
Wholesale PPE Multi-Option Execution Comparison (Borrower-Paid 2.000% Default · 39 Wholesale Lenders)
| Execution Option | Prepay Structure | Est. Note Rate | Prepay Price Credit | Monthly Debt Service | DSCR Ratio |
|---|---|---|---|---|---|
| Option A: Lowest Rate (60-Mo Stepdown) | 5-4-3-2-1 | 6.625% | -100 bps (-1.000 pt) | $2,169/mo | 1.22x |
| Option B: Balanced Par (36-Mo Stepdown) | 3-2-1 | 6.875% | -75 bps (-0.750 pt) | $2,208/mo | 1.20x |
| Option C: Max Cash Flow (10-Yr Interest-Only) | 3-2-1 IO | 7.000% | +38 bps IO LLPA | $2,034/mo | 1.30x |
Many DSCR lenders focus on the property's rent, not your tax returns. Not all applicants will qualify; terms vary by lender. Loans made or arranged pursuant to a California Financing Law license, #60DBO-218873.
Illinois Cities with Population ≥ 50,000 (30 Markets)
Click any Illinois city below to open its localized DSCR & Commercial Multifamily underwriting desk with county property tax rates, median rent benchmarks, and a pre-populated city deal calculator:
| City (IL) | County | 2026 Est. Pop | Effective Tax Rate | Median 1–4 Unit Price | Median Monthly Rent | 5+ Unit Rent/Door |
|---|---|---|---|---|---|---|
| Chicago, IL → | COOK County County | 2,963,472 | 2% | $340,000 | $2,900/mo | $1,725/door |
| Aurora, IL → | DUPAGE County County | 217,960 | 2.08% | $360,000 | $3,000/mo | $1,800/door |
| Rockford, IL → | WINNEBAGO County County | 163,774 | 1.91% | $325,000 | $2,750/mo | $1,650/door |
| Joliet, IL → | WILL County County | 161,109 | 2.04% | $315,000 | $2,700/mo | $1,600/door |
| Naperville, IL → | DUPAGE County County | 157,902 | 2.2% | $350,000 | $2,950/mo | $1,750/door |
| Springfield, IL → | SANGAMON County County | 127,537 | 2.04% | $280,000 | $2,400/mo | $1,425/door |
| Peoria, IL → | PEORIA County County | 126,999 | 2.2% | $315,000 | $2,600/mo | $1,550/door |
| Elgin, IL → | KANE County County | 120,058 | 2.16% | $310,000 | $2,600/mo | $1,550/door |
| Waukegan, IL → | LAKE County County | 96,820 | 2.08% | $320,000 | $2,650/mo | $1,600/door |
| Cicero, IL → | COOK County County | 91,672 | 2.08% | $300,000 | $2,550/mo | $1,525/door |
| Champaign, IL → | CHAMPAIGN County County | 90,932 | 2.04% | $300,000 | $2,500/mo | $1,500/door |
| Bloomington, IL → | MCLEAN County County | 86,003 | 2.04% | $280,000 | $2,400/mo | $1,425/door |
| Arlington Heights, IL → | COOK County County | 82,833 | 2.08% | $300,000 | $2,550/mo | $1,525/door |
| Evanston, IL → | COOK County County | 82,371 | 2.2% | $315,000 | $2,600/mo | $1,550/door |
| Schaumburg, IL → | COOK County County | 81,649 | 2.16% | $330,000 | $2,700/mo | $1,625/door |
| Decatur, IL → | MACON County County | 81,434 | 2.25% | $315,000 | $2,650/mo | $1,575/door |
| Bolingbrook, IL → | WILL County County | 80,590 | 2.12% | $325,000 | $2,700/mo | $1,600/door |
| Palatine, IL → | COOK County County | 75,592 | 2.08% | $320,000 | $2,650/mo | $1,600/door |
| Skokie, IL → | COOK County County | 71,042 | 2.16% | $330,000 | $2,700/mo | $1,625/door |
| Des Plaines, IL → | COOK County County | 64,221 | 2.08% | $300,000 | $2,550/mo | $1,525/door |
| Orland Park, IL → | COOK County County | 63,863 | 2.04% | $300,000 | $2,500/mo | $1,500/door |
| Tinley Park, IL → | COOK County County | 62,437 | 2.08% | $320,000 | $2,650/mo | $1,600/door |
| Oak Lawn, IL → | COOK County County | 62,210 | 1.96% | $290,000 | $2,450/mo | $1,475/door |
| Berwyn, IL → | COOK County County | 61,866 | 2.08% | $320,000 | $2,650/mo | $1,600/door |
| Mount Prospect, IL → | COOK County County | 59,700 | 2% | $295,000 | $2,500/mo | $1,475/door |
| Normal, IL → | MCLEAN County County | 59,584 | 2.08% | $320,000 | $2,650/mo | $1,600/door |
| Wheaton, IL → | DUPAGE County County | 58,476 | 2.12% | $325,000 | $2,700/mo | $1,600/door |
| Hoffman Estates, IL → | COOK County County | 57,114 | 2.2% | $315,000 | $2,600/mo | $1,550/door |
| Oak Park, IL → | COOK County County | 56,752 | 1.91% | $290,000 | $2,450/mo | $1,450/door |
| Downers Grove, IL → | DUPAGE County County | 54,140 | 2.25% | $315,000 | $2,650/mo | $1,575/door |