Commercial Loan Specialist Salaries in Illinois
How Much Does a Commercial Loan Specialist Make in Illinois?
Updated March 01, 2025
As of March 01, 2025,
the average annual pay of Commercial Loan Specialist in Illinois is $100,795.
While Salary.com is seeing that Commercial Loan Specialist salary in IL can go up to $127,368
or down to $68,434, but most earn between $83,856 and $114,705.
Salary ranges can vary widely depending on many important factors,
including education, certifications, additional skills, and your experience levels.
With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Related Job Titles to Commercial Loan Specialist
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Similar Job Salaries to Commercial Loan Specialist by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
Wintrust Financial Corporation
Commercial Loan Closing Specialist
|
$129,467/yr
|
RANGE: $105,008 - $153,926
|
|
First Mid-Illinois Bancshares
Commercial Loan Documentation Specialist
|
$63,146/yr
|
RANGE: $54,020 - $72,272
|
|
First Mid Bank & Trust
Commercial Loan Documentation Specialist
|
$64,814/yr
|
RANGE: $55,095 - $74,533
|
|
Dexian
Commercial Loan Operations Analyst
|
$72,154/yr
|
RANGE: $61,581 - $82,726
|
|
First Federal Savings Bank Illinois
Commercial Loan Coordinator
|
$115,925/yr
|
RANGE: $95,121 - $136,728
|
|
First Mid-Illinois Bancshares
Commercial Loan Officer
|
$122,874/yr
|
RANGE: $100,505 - $145,243
|
|
First Mid
Commercial Loan Officer
|
$104,627/yr
|
RANGE: $83,460 - $125,794
|
|
BankTalent HQ
Commercial Loan Officer
|
$112,032/yr
|
RANGE: $93,131 - $130,933
|
|
First Mid Bank & Trust
Commercial Loan Officer
|
$122,874/yr
|
RANGE: $100,505 - $145,243
|
|
International Staffing Consultants, Inc.
Commercial Loan Underwriter
|
$131,929/yr
|
RANGE: $107,912 - $155,947
|
Top 10 Highest Paying Cities For Commercial Loan Specialist Jobs in Illinois
It is important to understand how location impacts your career prospects in the United States.
There are some cities where a Commercial Loan Specialist can find a job easily with a greater salary paid then achieve a higher standard of living.
Below is the top cities list for Commercial Loan Specialist job salaries in Illinois.
Some cities can pay higher salaries for Commercial Loan Specialist jobs, which can indicate that there is a large demand for Commercial Loan Specialist positions in this city.
The following table shows top 10 cities where the Commercial Loan Specialist salary is higher than other cities in Illinois.
Chicago takes first place in this list, followed by Cicero, Evanston.
The Commercial Loan Specialist salary is $103,357 in Chicago,
which is higher than the national average. There are 20 cities' Commercial Loan Specialist salary higher than national average in Illinois.
The average salary for a Commercial Loan Specialist in Illinois is $100,795,
but we found that the city with the highest salary for Commercial Loan Specialist jobs is Chicago, IL, and it is higher than Cicero.
Commercial Loan Specialist jobs in Chicago can have the opportunity to earn higher salaries than in other cities in Illinois.
| CITY | ANNUAL SALARY | MONTHLY PAY | WEEKLY PAY | HOURLY WAGE |
| Chicago | $103,357 | $8,613 | $1,988 | $50 |
| Cicero | $103,357 | $8,613 | $1,988 | $50 |
| Evanston | $103,357 | $8,613 | $1,988 | $50 |
| Oak Park | $103,357 | $8,613 | $1,988 | $50 |
| Skokie | $103,357 | $8,613 | $1,988 | $50 |
| Oak Lawn | $103,259 | $8,605 | $1,986 | $50 |
| Des Plaines | $103,062 | $8,588 | $1,982 | $50 |
| Mount Prospect | $102,963 | $8,580 | $1,980 | $50 |
| Aurora | $102,470 | $8,539 | $1,971 | $49 |
| Hoffman Estates | $102,470 | $8,539 | $1,971 | $49 |
What Does a Commercial Loan Specialist Do?
You may also collaborate with other financial institutions on preparing loan packages for clients who require extensive commercial loans.
Updated October 29, 2021
Commercial loan officers receive health insurance and other job perks, including profit-sharing and bonuses for completing successful loans.
Updated October 17, 2021
Once a loan has been approved and money given to a commercial client, the loan officer is responsible for making sure that loan payments are made on time.
Updated September 24, 2021
Once a loan candidate has been assessed, the commercial loan officer will recommend approval or disapproval of the loan application based on the information provided by the business and the data they uncover during the application process.
Updated December 20, 2021
– while commercial loan officers make their decisions based on what they see on paper, customer service is still a big part of the job because they often meet with applicants face to face.
Updated December 20, 2021
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Explore JobArchitectFrequently Asked Questions About a Commercial Loan Specialist Salaries
What is the average of a Commercial Loan Specialist in Illinois?
The Commercial Loan Specialist salary range is from $83,856 to $114,705, and the average Commercial Loan Specialist salary is $100,795/year in Illinois.
The Commercial Loan Specialist's salary will change in different locations.
Which location pays the highest Commercial Loan Specialist salary in the United States?
The Commercial Loan Specialist salary in San Jose, CA is $123,654
which is the highest in the US.
What kinds of reasons will influence the Commercial Loan Specialist's salary?
Besides the location, employees' education degree, related skills, and work experience also will influence the salary.
Try to improve your skills and experience to get a higher salary for the position of Commercial Loan Specialist.
What is the growth rate of the Commercial Loan Specialist's salary?
If you are thinking of becoming a Commercial Loan Specialist or planning the next step in your career, find the detailed salary report of a Commercial Loan Specialist.
