CHICAGO – June 17, 2021 – Associated Bank announced completion of a $26,700,000 loan to Shorewood Development Group for the acquisition and revitalization of the Market Meadows Shopping Center, a 148,700 square foot multi-tenant Jewel-anchored shopping center located at 1201 S. Naper Boulevard in Naperville, Illinois.
Shorewood Development Group is also constructing a new three-tenant 6,855 square foot out-lot at the northwest corner of 75th Street and Naper Boulevard as well as a Lock-Up self-storage facility on the property.
Existing tenants include: Jewel, US Bank, McDonald’s and T-Mobile, and new leases have already been signed with Chipotle, BMO, Jersey Mike’s, Big Blue Swim School and Delta Life Fitness.
Shorewood Development Group specializes in repositioning existing buildings and ground-up construction of retail projects, leveraging relationships throughout the Midwest in both the real estate and investment communities. Partners Aaron Roth and Louis Schriber, III, founded Shorewood in 2007.
This is Associated Bank's 11th loan to Shorewood Development Group. Daniel Barrins, a senior vice president with Associated Bank’s Commercial Real Estate group, 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.
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ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $35 billion and is Wisconsin’s largest bank holding company. 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 120 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas.