Associated Bank has provided $13.4 million in construction financing to an entity controlled by Dwight Yackley of BBM Incorporated to finance the development of Main Street Promenade East, a 54,828-square-foot mixed-use retail/office building that is being constructed in downtown Naperville.
Retail anchors include Anthropologie, J.CREW and Hot Mama, as well as Blue Mercury and Frost Gelato, two newer concepts that are expanding in the Chicago market.
The first floor retail shops will expand the downtown Naperville shopping district from the adjacent Main Street Promenade, which already includes Coldwater Creek, White House/Black Market and Hugo’s Frog Bar. Executive office suites by Regus will occupy a significant portion of the second floor office space. Both shoppers and office users will enjoy direct access to the Van Buren parking garage, which provides free parking for the downtown Naperville area.
BBM Incorporated, headed by Yackley, is a real estate development and management firm that has focused on the downtown Naperville area. Senior Vice President Rosemary Kehr, from the commercial real estate division of Associated Bank in Chicago, originated the loan and managed the loan closing.
