CHICAGO – December 17, 2019 – Associated Bank announced the completion of a $15,840,000 construction loan for Sherwin Industrial, a redevelopment project by Panattoni Development Company of a 7.8-acre industrial site on Sherwin Ave in Des Plaines, Illinois.
Panattoni will tear down two existing industrial buildings on the site and build a 162,000 square foot industrial warehouse scheduled for completion in the fall of 2020. The project is located in the O’Hare submarket, 2.5 miles from O’Hare’s cargo entrance, one mile from a full I-294 interchange and two miles from the I-90 interchange.
Founded in 1986 by Carl Panattoni, Panattoni Development Company, Inc., along with its European and Canadian affiliates, specializes in industrial, office and build-to-suit developments. The organization operates from 24 offices in the United States, Canada and Europe and has developed more than 340 million square feet of space including more than 118 million square feet of build-to-suit projects since its inception.
Krista Casper, a senior vice president with Associated Bank’s Commercial Real Estate, handled the loan arrangements and closing.
Associated Bank’s Commercial Real Estate division is committed to providing commercial real estate developers/owners/operators with an array of financing solutions, in addition to products and services that meet their unique needs. The division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Texas and Wisconsin.
# # #
ABOUT ASSOCIATED BANC-CORP Associated Banc-Corp (NYSE: ASB) has total assets of $33 billion and is one of the top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from more than 240 banking locations serving more than 120communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas.