Associated Bank recently closed $21.8 million in financing for Chicago developers with new projects underway in Illinois and Missouri, including:
• Conor Commercial / Gallagher & Henry – $17.5 million for the construction of a 347,400-square-foot industrial building in Woodridge, Ill., near the intersection of Interstates 355 and 55. The building will be built-to-suit and leased to Orbus, a trade show display company. Senior vice president Jerry Rotunno, with the Commercial Real Estate division of Associated Bank, managed the loan closing
• Quattro Development – $1.77 million for the acquisition of a 1.41-acre Super Wal-Mart out lot at 2201 Michigan Ave. in Arnold, Mo., and construction of a 10,700-square-foot retail building there. Senior vice president Edward “Ted” Notz, Commercial Real Estate division of Associated Bank, managed the loan closing.
• 2500 Green Bay Road, LLC – $2.55 million for the re-construction of a former condominium project into a 12-unit multi-family apartment building. The property, located at the intersection of Green Bay Road and Central, is at 2500 Green Bay Road in Evanston, Ill. Vice President Michael McGovern, Commercial Real Estate division of Associated Bank, managed the loan closing.
“These developers with projects in the greater Chicago area and elsewhere in the Midwest are undertaking some very exciting developments, and we’re pleased to be able to help make their visions reality,” said senior vice president Greg Warsek, Chicago market manager for Associated Bank.
