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Multifamily Loans in
Highland Park, IL

Overview

Highland Park is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Highland Park are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Highland Park are some of the lowest nationally. Highland Park apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Highland Park.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Highland Park, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Highland Park are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 2.99% - 3.23%
7 Year Fixed 3.18% - 3.42%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.00% - 3.25%
7 Year Fixed 3.20% - 3.65%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Highland Park may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Lenders in Highland Park, IL

All major multifamily lender types are lending in Highland Park.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 02, 2021


Highland Park Market

The city of Highland Park in Lake County has a population of 29,515. The median rent in Lake County for a 2 bedroom is $1,417. The median Highland Park resident is 47 years old with a yearly income of $62,294. The average family has 2.99 members and a median household income of $150,269. Highland Park has a 74% higher education rate. The unemployment rate in Highland Park is 3.3%.


Population
29,515 people

County
Lake County

Renters

17.9% of Highland Park households are renters.


Rent Burden

32.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lake County 1
Illinois 2
National 2
Studio $1,104 $599 $737
1 bedroom $1,224 $669 $813
2 bedroom $1,417 $840 $1,015
3 bedroom $1,799 $1,100 $1,325
4 bedroom $2,147 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Highland Park Demographics


Median Individual Income
$62,294 / year

Median Household Income
$150,269 / year

Families w/ Dual Incomes
58%

Unemployment Rate
3.3%
Household Income Distribution
Highland Park, IL

Median Age
47 years

Avg Family Size
2.99 people
Age Distribution
Highland Park, IL

College Education or Above
74%

STEM College Graduates
41%
Education Distribution
Highland Park, IL
Source: U.S. Census Bureau

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