Byline Bank’s Commercial Real Estate Group closed on a $9.25 million loan with LSC Development to fund the conversion of a 2000 vintage office building at the intersection of I-355 and North Avenue in Lombard, Illinois, into a fully climate-controlled self-storage facility.
The 103,109-square-foot building, located on a 10.5-acre site at 665 W. North Ave. in Lombard, will be transformed into a 67,853-square-foot Class-A, climate-controlled self-storage facility and provides 64 secured surface parking spaces for both RVs and regular vehicles across 14,800 square feet. Two loading docks with overhead doors will also be installed on the finished project.
Located in an affluent area with a high demand for climate-controlled self-storage facilities and easy access to the highway system, the adaptive reuse of this property is part of a larger, post-pandemic trend of repurposing unused or underutilized office buildings to fit the needs of the surrounding communities.
The loan was closed quickly, with just 19 business days between the signing of the term sheet and the acquisition of the property.
The deal closed in April 2025, and conversion is expected to be completed in the first half of 2026. Byline Bank was represented in this transaction by law firm Blank Rome and LSC Development was represented by Duggan Bertsch, LLC.
