CHICAGO December 4, 2016 – Associated Bank announced the closing of an acquisition and construction loan in the amount of $10.197 million to Bridge Development Partners to redevelop two industrial sites at 9555 & 9655 Soreng Avenue in Schiller Park, Ill. The location is approximately one mile from the I-294 interchange at Irving Park Road.


The parcels were formerly two Hostess Brands sites totaling 9.91 acres; 9655 Soreng is a 4.20 acre site and 9555 Soreng is 5.72 acres. Both sites contained old and functionally obsolete buildings that have recently been demolished in preparation for development of two speculative, state-of-the-art Class A industrial buildings.


The first new building will be an 84,700 sq. ft. asset located on the 4.20 acre site, while a second 72,825 sq. ft. building will be constructed on the adjacent 5.72 acre parcel. Both of the new facilities will feature significantly enhanced physical improvements, including 32’ ceiling clearances and significant loading capacity (19 loading docks for 9655 Soreng and 24 docks for 9555 Soreng). Completion of both buildings is anticipated in May 2017.


Chicago-based Bridge Development Partners develops investment-grade buildings and business parks and also acquires land for the development of speculative and build-to-suit projects. They acquire existing Class A and Class B facilities and are one of the largest owners of cold storage and refrigerated facilities in the Chicago market.


Daniel Barrins, Vice President in the Commercial Real Estate division of Associated Bank, originated the loan.


Headquartered in Chicago, 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. Associated’s Commercial Real Estate division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Texas and Wisconsin.



Associated Banc-Corp (NYSE: ASB) has total assets of $29 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 over 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at

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