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Sue Blumberg featured in REJournals

NorthMarq’s Sue Blumberg contributed her perspectives in a REJournals story titled, “Investors rushing to place capital before expected slowdown later this year.”

In Chicago and nationally, commercial real estate investors, brokers and lenders all agree that the industry will see strong activity for the first half of 2020. However, dynamics such as a decelerating economy, trade conflicts, labor availability and the presidential election may turn some actors into fence-sitters by the second half of the year.

Lenders are taking a more defensive stance as they evaluate LTVs, individual debt exposure by property, property cash flow and tenant and business line. Though many of the responding lenders report heading into the year with optimism for stable to strong deal velocity, any change to the low interest rate environment could sour their mood.

“We’re expecting to see more of the same,” said Blumberg. “We’re projecting a 5 to 10 percent increase in origination levels in 2020 compared to 2019. Where we’ll see the most activity is also more of the same with multifamily and industrial leading the pack and healthy levels for office properties.”

Read the full story here.

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Sue Blumberg recognized in Real Estate Forum’s Women of Influence

Sue Blumberg, senior vice president/managing director of NorthMarq’s Chicago office was recognized in in the Women of Influence Feature in Real Estate Forum. For a quarter of a century, REForum has published the Women of Influence Feature as a way to highlight women making inroads in the industry.

Learn more about what set Sue apart in her nomination responses below:

Why should this person be selected as a 2018 Woman of Influence? What makes this nominee stand out from her counterparts?
Sue has been involved in the commercial real estate industry since 1979. She began her career in Chicago and in 1983 moved to Washington, DC where she began her specialization in multifamily financing while covering the Midwest markets. Sue relocated back to Chicago in 1987 where she has been since. She joined NorthMarq in 2006, as managing director. Her expertise and client relationships have allowed her to refinance many properties several times over her career. Sue has provided financing for over 500 properties, representing over $5 billion in loans.

Sue is a graduate of University of Iowa (BBA Financial Economics) and DePaul University (MBA Finance). She is a licensed Real Estate Managing Broker in the State of Illinois. She serves on the Board of Highland Park Nursery School and Day Care and volunteers with several local charities. Sue is a founding member of Real Estate Finance Forum and a member of CREW Chicago.

In what ways has this nominee left her mark on the industry? Why is she worthy of this recognition?
William Ross, president: “Sue has been instrumental in her advocacy of women at NorthMarq, where she organizes a women’s breakfast at the company’s production conference. This event has grown from just nine women the first year to nearly 30 this year. In addition, she is diligent in her advocacy for clients, providing thorough analysis and solutions no matter the financing situation, and a great liaison to both Freddie Mac and Fannie Mae, often being recognized as one of their top national producers of the year. She was also selected to receive NorthMarq top internal award in 2015, which recognizes production, leadership and integrity.”

What are the nominee’s current responsibilities?
At NorthMarq , Sue is a managing director/senior vice president and provides financing solutions through NorthMarq’s direct relationships with Fannie Mae, Freddie Mac, preferred life insurance correspondents, CMBS lenders, HUD, non-recourse debt funds and banks. She leads the 12-person Chicago office, one of the company’s fastest growing offices, adding two new producers and three new financial analysts this year.

In the last four years, Sue has guided her office to $1.319 million in debt and equity transactions, with more than 250 of those loans in multifamily properties. She’s recruited two new producers and three new analysts to join the office in 2018, increasing the number of producers to seven.

Please list the nominee’s greatest professional accomplishments in past 12 months.
Sue is a top-tier Fannie Mae and Freddie Mac producer for NorthMarq , with accomplishments in the affordable housing financing for both agencies as well as FHA. In addition to originating business, Sue manages the Chicago office, which has had significant growth in the last 12 months, most recently adding two senior-level producers and three new analysts.

Recent transactions:

  • $93 million market-rate transaction of Columbus Plaza in Chicago via Fannie Mae’s Green Program, which was the third refinance of the same property.
  • $42.2 million for 509-unit multifamily property in Mt. Prospect, Illinois
  • $4.02 million affordable loan through Freddie Mac’s Targeted Affordable Housing program for a 145-unit independent senior living property in Illinois. The property was acquired by a leading Chicago Not-for-profit operator and manager that purchased the property to ensure the long-term viability for those in the community that deserve a great place to live.

What is the nominee’s membership/activity in business, career-oriented, charitable or civic-minded organizations?
Sue serves as President of the Board of Directors of Highland Park Nursery School and Day Care and volunteers with several local charities. Sue is also a founding member of Real Estate Finance Forum and a member of CREW Chicago.

Sue has been a guest lecturer for more than seven years at DePaul University for the MBA program in Real Estate specifically in the Commercial Real Estate Finance class.

How has being in CRE impacted your life?
When I began in the CRE industry more than 30 years ago, I was with a smaller company and had no idea there were practically no other women in the business.  I was one of 20 originators in my company.  It wasn’t until I went to an industry conference that I realized that the same 5 percent ratio of women in the industry looked a lot different, and was a lot more pronounced. The good ‘ol boys club was hard to break into, but I had excellent mentors both men and women. Women on our business walk a fine line in wanting to be one of the guys, while still remain professional. I felt I had strengths that worked well in the business, as I have a passion for what I do, and don’t think it’s limited or partial to men or women. If you know your business, and are able to communicate the advantages of what you represent, I feel strongly that women are likely to win the business evenly. 

 I have found great camaraderie in our business and enjoyed success through three different economic cycles. There were fewer women that were the owners or decision makers as my clients. I have seen that change over the years as well which is wonderful and as it should be. It is great being a woman business person and often attracts attention since there are so few of us. We still stand out in a crowd.

What’s your take on the current state of CRE and its performance?
CRE today is more stable and well positioned than almost any other time.  There are so many checks and balances that any imbalance or glitch in the economy shouldn’t be detrimental to CRE. Capital is plentiful in the markets, which could lead to aggressive underwriting, low cap rates and frothy pro-forma returns, but the underlying loan parameters remain prudent. As interest rates continue to rise, the amount of debt available will be affected, thereby limiting the chance of over-leveraging a property. 

That said, the amount of equity in a deal and the more limited returns will start to affect the pricing of transactions. We have found there is still plenty of opportunity in value-add transactions, energy saving green programs, and older vintage renovations to capture great returns to investors. A longer term hold of a property is more likely to be advantageous as the upsides and growth continue.  Interest rates are an unknown for the future and if they rise steadily and not suddenly the risk is minimal.

 As far as property types, industrial and multifamily are the favored groups. Retail continues to be a challenge although it seems to be reinventing itself more oriented to services such as fitness or boutiques. Office and hospitality are holding their own, and are specific to location and growth within any market.  It’s a good time to be in CRE. There is stability throughout the industry.

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NorthMarq Capital’s Chicago office adds Freddie Mac Senior Producer Matthew Brodsky to its production team

CHICAGO (May 15, 2018) – NorthMarq Capital, a leader in financing commercial real estate throughout the United States, announced today that Matthew Brodsky has joined its newly relocated and expanding Chicago office as vice president.

At NorthMarq, Brodsky will be responsible for the cultivation of debt and equity solutions for the entire capital stack for the company’s clients. While Brodsky can operate amongst all property types, clients will specifically benefit from his extensive multifamily experience.

A native of Chicago, prior to joining NorthMarq, Brodsky spent six years at Freddie Mac, sourcing over $5.2 billion in multifamily transactions. In 2016, Brodsky was promoted to senior producer in the Freddie Mac Dallas Central Office, where he was responsible for overseeing annual originations in excess of $1.65 billion across the six Seller/Servicer accounts within the Central Region.

Brodsky holds a BS in Public Financial Management from Indiana University and an MBA in Real Estate Finance and Investment from DePaul University.

“Matt is joining us at a great time, adding to our footprint in the Chicago market,” said Sue Blumberg, senior vice president/managing director of NorthMarq Capital’s Chicago office. “With our new space under a long-term lease and our strong existing team, Matt brings wonderful market knowledge and a host of excellent relationships to our group. Our agency platform and life company relationships will be a perfect fit for his real estate clients.”

The Chicago office recently completed its move within the same building at 111 South Wacker Drive, to Suite 3345 in Chicago, Illinois. The new space provides stellar workspace and easy access to the office’s local clientele, as well as providing extra square footage for a growing team.

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NorthMarq Capital’s Chicago office welcomes industry veteran Brett Hood to their team as senior vice president

CHICAGO (January 16, 2017) – Brett Hood has joined NorthMarq Capital as senior vice president of its Chicago-based regional office. Hood is responsible for providing clients with creative financing solutions on behalf of the firm’s direct relationships with Fannie Mae, Freddie Mac, FHA, life company correspondents, commercial banks and CMBS lenders.

With more than 15 years of experience in commercial real estate lending, including direct origination in excess of $8 billion in loan volume, Hood has extensive knowledge financing all property types for multiple capital providers. Prior to joining NorthMarq, Hood served as director within Guggenheim Partners real estate finance subsidiary, responsible for loan origination on behalf of the firm’s affiliated life companies and CMBS platforms. Previously, Hood spent six years within Freddie Mac’s multifamily division most recently serving as director of production and sales. At Freddie Mac, he played an integral role as a member of the Central region’s production management team, overseeing approximately $7 billion in annual loan volume. Hood began his career in CMBS lending spending his first seven years with several notable firms namely Credit Suisse, Nomura and CW Capital.

“We are delighted to have Brett join our Chicago team,” said Sue Blumberg, senior vice president/managing director of NorthMarq’s Chicago office. “His extensive experience across all lending platforms, from Freddie Mac to CMBS, will allow him to bring innovative and nuanced solutions to our client relationships.”

Hood received his BBA in Finance and Real Estate from the University of Wisconsin-Madison.

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Sue Blumberg discusses construction financing trends in Midwest Real Estate News

NorthMarq Capital’s Sue Blumberg was asked about the latest construction financing trends in the July 2016 edition of Midwest Real Estate News. The story, titled “CRE pros: People matter when it comes to commercial financing,” focused on what it takes for investors and developers to qualify for commercial finacning today. Read the article here.

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​Sue Blumberg featured in Real Estate Journal

NorthMarq Capital’s Sue Blumberg recently shared her insight about how busy developers and investors are these days when it comes to requesting commercial financing for new developments and acquisitions. The interview, titled “Skin in the game matters when it comes to commercial financing,” was featured in the June edition of REJournals.com. Read the article here.

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Sue Blumberg: 2016 National Multifamily Housing Council’s Spring Board of Directors meeting shows multifamily demographics remain very positive

CHICAGO (June 23, 2016) — Multifamily demographics continue to be very positive. At least that was consensus at the 2016 National Multifamily Housing Council’s Spring Board of Directors meeting, held in May at the Four Seasons Hotel in Chicago.

The keynote speakers had no problem establishing upbeat outlooks. Home ownership has slowed and continues to decline where renters, from young to old, look for alternative, low maintenance housing. Also, empty nester housing is untapped and unbuilt. There are many models of modular housing and shared housing (such as student housing suites) for young renters and amenity packages are incredibly high-tech and appealing.

Other takeaways:  walking score/location is everything; the suburbs are not hurting and the reason is different lifestyle and different price-points;  affordability of housing is getting worse with no answers, although there is the acknowledgement that the problem is tied to income inequality.

The Keynote speakers were:

David Axelrod
CNN Senior Political Commentator/Director of  Institute of Politics—University of Chicago
During his hour discussion, David discussed the  2016 election, Chicago fiscal and crime issues and the history of past political times (as far back as Lincoln). His message was “to please take this election seriously.”

Sam Zell
Equity Group Investments—Chairman
Hearing Sam is always a treat. He believes we are in the 8th or 9th inning of this cycle. He predicted we will have a soft landing, whenever that is, because the industry has done a much better job this time round of preparing and underwriting.  For his company, the walkability score is the only factor worth focusing on and density is the only answer to affordability. He also noted that there is no need for an interest rate deduction any longer in the tax code. Sam concluded his portion by opining that  the stock market is overvalued and that homeownership could drop to 55 percent, down from 62 percent currently.

Henry M. Paulson, Jr.
Businessman, Founder & Chairman of the Paulson Institute, and former Secretary of the Treasury
Former Treasury Secretary Henry M. Paulson, Jr. focused on saving the GSE’s and pronounced his dismay at them still remaining in conservatorship with no way out, as that was not the original intention. He stated he thinks privatization is the ultimate out.

On the lighter side of things, there was no shortage of humor when he admitted to doing a lot of aging during his stint at Treasury. He looks back thinking he is lucky to have prayer in his life. Interestingly enough, he has become an environmentalist.

Vivek Wadhwa
Academic, Researcher, Writer and Entrepreneur
Vivek is a technologist and futurist and what he had to say was as scary as it was awesome.  He believes that solar power will be capable of meeting up to 100 percent of the nation’s energy needs in 10 years, and that we will be storing excess after that. In this scenario, there is no need for coal or gas. To keep up with this startling forecast, Vivek believes manufacturing needs to get away from the traditional model of “factory produced” and embrace enabling trained workers to innovate at the same time.

In conclusion, Vivek emphasized that technology, energy, environment, medicine and education, will exponentially advance in the next 20 years. Cyber-attacks and security are his most worrisome issue.

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Sue Blumberg delivers agency update in NorthMarq’s Market News

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Agency Appetite in Chicago Signals Good News for Borrowers

As of the second quarter, 2016 the agencies have a good appetite for multifamily in the Chicago market, as well as the Midwest. Although there has been a surge of new product being delivered, it appears to be absorbing well. Rent growth is expected to slow to 3-5 percent from all-time highs of 5-7 percent, and vacancies edging up (also from all-time lows). Occupancies remain around 95 percent.

Read the full newsletter here…

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NorthMarq Capital welcomes Bob Toland to its Chicago regional office

CHICAGO (April 27, 2016) – Bob Toland has joined the Chicago regional office of NorthMarq Capital as vice president. At NorthMarq, Toland’s primary focus will be to structure and place debt and equity for clients seeking to acquire, refinance or develop commercial real estate properties.

Most recently, Toland served as managing director at Berkadia, where for 30 years he was responsible for the origination of commercial, multifamily, industrial, retail and office mortgages throughout the United States. Loan types include fixed and floating and ranged from $1 million to $100 million. He was part of the Top Performers-Chairman’s Club for multiple years during his varied tenure.

“We are excited to have Bob on board. With Bob’s 30 plus years of industry experience, and NorthMarq’s national platform, he will be a strong addition to our office,” said Sue Blumberg, senior vice president/managing director of NorthMarq Capital’s Chicago office.

Toland received his degree in finance from Miami University and his MBA from the University of Notre Dame. He has served on the advisory council for One America.

About NorthMarq Capital
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks and has a long track record of multi-family loan origination through Freddie Mac Program Plus™, the Fannie Mae DUS program and through FHA, resulting in more than $12 billion in annual production volume and a loan portfolio of more than $47 billion. For more information please visit northmarqcap.wpengine.com.

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Sue Blumberg Selected as Member of Midwest Commercial Real Estate Hall of Fame

MINNEAPOLIS (Jan. 23, 2014) – Sue Blumberg, senior vice president of NorthMarq’s Chicago regional office, has been selected as a member of the Midwest Commercial Real Estate Hall of Fame by Midwest Real Estate News Magazine, joining some of the most accomplished leaders in the commercial real estate industry.

Blumberg and the other inductees of the fourth class of the Midwest Commercial Real Estate Hall of Fame are profiled in the latest issue of Midwest Real Estate News Magazine.

A real estate veteran with more than 30 years of experience, Blumberg has closed loans on more than 300 properties during her career including transactions regarding agency, life insurance companies, commercial mortgage-backed securities (CMBS) and bank lenders, primarily in the Midwest region.

“Sue has been a real inspiration to many women in the industry. Not only is she a consistent top producer, but she is an essential part of the NorthMarq management team as our managing director in Chicago,” said Larry Stephenson, senior vice president of NorthMarq. “She is well known in Chicago and brings positive energy to both work and community.”

A member of the Freddie Mac Production Advisory Council and the Amerisphere (Fannie Mae DUS sister company) Advisory Board, and a founding member of the Real Estate Finance Forum in Chicago, Blumberg graduated from the University of Iowa with a bachelor of business arts degree. She also earned an MBA in finance/real estate at DePaul University, where she has served as a guest lecturer for the past three years.

About NorthMarq
NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 34 offices coast to coast. With more than $10 billion in annual production volume and servicing a loan portfolio of more than $42 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plus™ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long loan production and loan servicing relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. For more information, please visit northmarqcap.wpengine.com.

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Jason Gray Joins NorthMarq Capital as Vice President of Chicago Office

MINNEAPOLIS (Jan. 17, 2014) – Jason Gray has joined NorthMarq Capital as vice president of its Chicago office.

Gray will focus on originating senior debt for commercial real estate transactions. His NorthMarq clients will benefit from his broad expertise in lending platforms, including FHA, Fannie Mae, CMBS, Freddie Mac and bridge loans.

Prior to joining NorthMarq, Gray worked at Arbor Commercial Mortgage as an originations director, specializing in multi-family and senior housing properties. He also served as an associate director of origination at Oppenheimer Multifamily Finance and as a business development associate at Cambridge Realty Capital, concentrating on senior housing.

“Jason will be a great asset to our team in Chicago, with expert knowledge in senior housing and healthcare,” said Sue Blumberg, senior vice president/managing director of NorthMarq’s Chicago office. “His background is extensive and he brings instant opportunity to our platform. There is already synergy between our existing business model and those Jason has been involved with in his career.”

About NorthMarq
NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 34 offices coast to coast. With more than $10 billion in annual production volume and servicing a loan portfolio of more than $42 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plus™ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long loan production and loan servicing relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. For more information, please visit northmarqcap.wpengine.com.

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