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Chicago Atlantic Real Estate Finance logo

Chicago Atlantic Real Estate Finance Business Segments

Business, geographic, and product segment breakdowns

Chicago Atlantic Real Estate Finance generates $63.0M in annual revenue across 4 key segments: Arizona One ($5.6M), Arizona Two ($40.0M), AZ ($26.5M), and CA ($87.9M). Based on the Q1 2026 filing.

Arizona One (TTM)$5.6MArizona Two (TTM)$40.0MAZ (TTM)$26.5MCA (TTM)$87.9MCalifornia Illinois (TTM)$27.9MFL (TTM)$51.9MIL (TTM)$25.9MIllinois Arizona (TTM)$139.6M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$239.9M
P/E Ratio7.79
ROE10.03%

Geographic

Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Current

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Various Five—$210.1K$816K$213.6K$407.9K$53.1M
OH$44.6M$45.3M$45.9M$46.5M$47.2M$47.8M
Illinois Arizona$24.2M$23.5M$32.6M$35.6M$35.7M$35.7M
MI$27.1M$27.1M$27.1M$27.1M$27.1M$27.1M
Illinois One$1.9M$1.9M$1.9M$26.5M$27.1M$27.1M
NY$25.1M$24.3M$23.6M$23.1M$22.1M$21.3M
FL$6.5M$6.5M$9.4M$10.4M$10.9M$21.2M
Various One$20.7M$20.9M$21.1M$15.3M$15.6M$16.8M
Various$19M$19M$19M$15.7M$15.7M$15.2M
PA$16.4M$16.5M$17.8M$14.5M$14.5M$14.5M
Pennsylvania One———$4.4M$14.5M$14.5M
CA$24.3M$24.4M$24.6M$24.8M$24.7M$13.8M
MO$22.2M$21.6M$21.1M$10.8M$11.7M$11.3M
Arizona Two$10M$10M$10M$10M$10M$10M
Missouri Arizona$18.9M$18.3M$18.3M$16.6M$14.3M$9.5M
WV$8.5M$8.5M$8.5M$8.5M$8.5M$8.5M
California Illinois$6.7M$6.7M$6.7M$6.7M$7.3M$7.3M
AZ$6.6M$6.6M$6.6M$6.6M$6.6M$6.6M
IL$6.5M$6.4M$6.3M$6.7M$6.5M$6.4M
Various Six——$211.8K$19.9M$19.9M$4.8M
Michigan Two————$3.2M$3.2M
Michigan One$5M$5M$5M$5M$960.1K$2.3M
Various Two$11.1M$13.2M$14.7M$19.8M$16.7M$2M
Various Seven————$4.9M$1.7M
Arizona One$1.6M$1.5M$1.5M$1.4M$1.4M$1.3M
Various Three$19.6M$19.7M$19.8M$2M$2M$830.4K
Various Four—$2.9M$2M$829.5K$818.4K$679.6K
Ohio One$2.5M$242.6K$264.4K$265.5K$266.5K$267.5K

Original Issue Premium Discount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CA—-$56.8K-$56.8K-$56.8K-$56.8K-$2.4M
Illinois Arizona—-$27.4K-$510.4K——-$403.2K
Various Five—-$23.3K-$718—-$86-$281.5K
Various One—-$461.6K———-$222.8K
California Illinois—-$39.2K-$39.2K-$39.2K-$39.2K-$142.6K
MO-$29.1K-$48.1K$0-$122.7K-$450-$137.6K
Various Six———-$70.1K—-$117.8K
Various—-$271.8K———-$108.9K
PA—-$108K———-$55K
Pennsylvania One—-$13.3K-$13.3K-$13.3K-$13.3K-$53K
Illinois One—-$15.8K-$15.8K-$15.8K-$15.8K-$47.5K
FL—-$15.8K-$111.9K——-$32K
Missouri Arizona—-$122.1K———-$24.6K
Various Two-$19.2K-$52.8K-$43K-$219.4K—-$23.5K
Various Four—-$24.7K-$28.1K—-$11.1K-$20.4K
Michigan One————-$7.7K-$18.1K
Arizona One—-$16.6K——-$10.6K-$12.7K
Various Three-$97.6K-$365.7K——-$29.7K-$9.6K
IL—-$29.3K———-$5.6K
Ohio One—-$7.4K———-$3.9K
Michigan Two—-$384.3-$384.3-$384.3-$384.3-$1.5K
MI—-$378.3-$378.3-$378.3-$378.3-$1.1K
Various Seven—-$32.5K-$32.5K-$32.5K-$32.5K—

Outstanding Principal

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Various Five—$233.3K$606.7K—$194.4K$53.3M
OH$21.4M$45.6M$578.6K$404.9K$591.1K$47.8M
Illinois Arizona$3.7M$23.6M$9.6M$3M$0$36.1M
Illinois One$0$1.9M$0$24.7M$580.4K$27.2M
MI$79.8K$27.1M———$27.1M
NY$0$24.3M———$21.3M
FL—$6.6M$3M$1M$400K$21.2M
Various One$181.4K$21.4M$138.7K—$327.3K$17M
CA$185K$24.4M$185.8K$129.4K$188.2K$16.2M
Various—$19.3M———$15.3M
PA—$16.6M$1.4M——$14.6M
Pennsylvania One————$10.1M$14.6M
MO$5.1M$21.7M——$941.5K$11.4M
Arizona Two$2.5M$10M———$10M
Missouri Arizona—$18.4M———$9.5M
WV—$8.5M———$8.5M
California Illinois$1.7M$6.7M——$759.1K$7.4M
AZ—$6.6M———$6.6M
IL$0$6.5M—$365.1K—$6.4M
Various Six———$19.8M—$4.9M
Michigan Two—$789.3K$789.3K$789.3K$789.3K$3.2M
Michigan One$139.8K$5M———$2.3M
Various Two$2.5M$13.3M$1.5M$5.3M—$2.1M
Various Seven—$1.3M$1.3M$1.3M$1.3M$1.7M
Arizona One—$1.6M———$1.3M
Various Three—$20.1M$50.8K——$840K
Various Four—$2.9M———$700K
Ohio One—$250K$21.4K——$271.4K

Percentage Of Loans Held For Investment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Various Five————0.1%12.9%
OH————11.5%11.5%
Illinois Arizona————8.8%8.7%
Illinois One————6.6%6.6%
MI————6.6%6.6%
NY————5.4%5.2%
FL————2.7%5.1%
Various One————3.8%4.1%
CA————6.1%3.9%
Various————3.8%3.7%
PA————3.5%3.5%
Pennsylvania One————3.5%3.5%
MO————2.9%2.8%
Arizona Two————2.4%2.4%
Missouri Arizona————3.5%2.3%
WV————2.1%2.1%
California Illinois————1.8%1.8%
AZ————1.6%1.6%
IL————1.6%1.6%
Various Six————4.9%1.2%
Michigan Two————0.8%0.8%
Michigan One————0.2%0.6%
Various Two————4.1%0.5%
Various Seven————1.2%0.4%
Arizona One————0.3%0.3%
Various Four————0.2%0.2%
Various Three————0.5%0.2%
Ohio One————0.1%0.1%
Florida One————5.2%—
NE————4.2%—

Yieldto Maturityof Internal Rateof Return

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
IL—23.3%———23.3%
Various Four—16.1%———20.4%
Various—17.1%———19.8%
Arizona One—18.7%———18.7%
CA4.1%16.3%—0.3%—18.7%
California Illinois4.6%18.3%—0.4%—18.7%
Missouri Arizona—18.7%———18.6%
OH—16.5%0.2%0.0%1.3%17.9%
FL—31.2%——2.4%17.5%
Michigan Two—4.3%4.3%4.3%4.3%17.2%
AZ—17.0%———17.0%
MI—17.3%———16.8%
NY—16.6%———16.6%
Ohio One—16.4%———16.1%
Various Six————0.8%16.0%
MO—14.7%0.0%0.5%0.2%15.4%
Various Three—15.2%—0.1%—15.3%
Various Two—19.3%0.3%——15.3%
Various One—22.6%0.9%—0.2%15.2%
Illinois Arizona—19.3%———15.0%
Illinois One—14.7%—0.7%—15.0%
WV—15.0%———15.0%
Various Five—19.4%—11.3%—13.2%
Arizona Two3.2%12.8%———12.8%
Various Seven—4.0%4.0%4.0%4.0%12.7%
Michigan One—17.2%———9.7%
PA1.2%9.5%0.2%——9.7%
Pennsylvania One—2.4%2.4%2.4%2.4%9.7%

Future Fundings

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Illinois One————$1.3M$2.4M
Various Two—$2.5M$2.5M$2.5M$2.5M$2.1M

Percentof Our Loan Portfolio

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other—0.3%0.3%0.3%0.3%1.0%