Ground-up construction loans for builders and investors developing new properties in Illinois. Finance up to 85% of your land purchase and 85% of construction costs on a single loan. Rates from 10%, non-Dutch interest, and land doesn't need to be permitted to qualify. Loans $100K to $7.5M.
SLA Capital — a Sir Lends A Lot LLC Company
A new construction loan is short-term financing for building a property from the ground up. It typically covers land acquisition, vertical construction, and an interest reserve on a single loan, with construction funds disbursed via draws as the build progresses through inspection milestones. Once construction is complete, the loan is paid off through a sale of the finished property or refinanced into long-term financing.
Illinois is a two-market state for investors: Chicago metro depth for scale and long-term hold value, plus Rockford / Peoria / Springfield secondary markets for pure cash-flow yield. Deep SFR inventory across the state supports every strategy.
Cook County and suburban Chicago (Lake, DuPage, Will, Kane counties) offer deep SFR + small-multi inventory with real cash-flow at the right basis.
Champaign-Urbana (Illinois), Bloomington-Normal (State Farm + ISU), and Peoria (Caterpillar) anchor stable rental demand outside Chicago.
Rockford, Peoria, and Springfield offer some of the highest cash-on-cash yields in the Midwest — attractive for portfolio investors focused on income vs. appreciation.
Whether you're closing a single-asset SFR in a smaller Illinois market or a portfolio in a major metro, we're active statewide. High-volume markets we regularly close in include:
Cook County + suburban Chicago (Lake, DuPage, Will counties)
Winnebago County — Northern Illinois SFR
Peoria County — Central Illinois + Caterpillar demand
Sangamon County — state capital
University of Illinois market
State Farm HQ + ISU market
Rock Island, Moline — cross-river metro with Iowa
Statewide coverage — send us any Illinois property
Same nationwide program, no state-specific surcharges.
Up-front pricing on every loan. The rate you're quoted is the rate you close at — no surprises at the closing table.
Up to 85% of the land purchase price plus 85% of construction costs. High leverage that keeps your capital deployable.
Pay interest only on the funds you've actually drawn, not on the undrawn balance. Keeps carrying costs down during early build phases.
Choose the term that fits your build schedule. Straightforward extensions available on active projects.
Land does not need to be permitted or warranted before loan approval. Get under contract and permit in parallel.
From single infill lots to multi-unit projects across Illinois. Same clean underwriting from starter builds up to $7.5M.
Yes. SLA Capital funds New Construction loans throughout Illinois — Chicago Metro, Rockford, Peoria, Springfield, Champaign–Urbana, and every other IL metro. Rates from 10%, up to 85% land + 85% construction.
SLA Capital finances up to 85% of the land purchase plus 85% of construction costs in Illinois. Loans range from $100,000 to $7,500,000.
No. SLA Capital does not require the land to be permitted or warranted before loan approval. Get under contract and start underwriting in parallel with permitting.
Non-Dutch interest — borrowers pay interest only on funds that have been drawn, not on the undrawn balance. This keeps carrying costs down during early build phases when most of the loan hasn't been disbursed yet.
Illinois is a two-market state for investors: Chicago metro depth for scale and long-term hold value, plus Rockford / Peoria / Springfield secondary markets for pure cash-flow yield. Deep SFR inventory across the state supports every strategy.
Send us the property. Our sizer returns a real term sheet in minutes.
Long-term rental financing for Illinois investors. Rates from 5.75%, up to 80% LTV, 3-month seasoning on cash-outs.
Short-term purchase + rehab financing across every Illinois metro. Rates 9.5–12%. Up to 100% LTC for premier borrowers.