CHICAGO – February 15, 2024 – Associated Bank recently announced completion of a financing package for Shorewood Development Group for a new automotive sales and service center in

. The primary financing is for the build-to-suit development of a 50,720 square-foot single-tenant Tesla center located at the southeast corner of Dundee Road and Old Arlington Heights Road in Buffalo Grove. The site is the former location of a Rohrman auto dealership and has been vacant for over 14 years. The property fronts Dundee Road and is across the street from Buffalo Grove High School.

The loan package also includes a separate loan to finance acquisition and site work for a 10.58-acre adjacent land parcel that consists of 4.89-acres zoned retail and 5.69-acres zoned residential.

The retail property can accommodate two buildings with a combined 30,000- to 40,000-square feet of retail space. The residential parcel is under contract to be sold to a local apartment developer to build four, four-story residential buildings with a total of 197 units.

This is Associated Bank's 12th loan to Shorewood Development Group, which specializes in repositioning existing buildings and ground-up construction of retail projects throughout the Midwest. Daniel Barrins, a senior vice president with Associated Bank’s Commercial Real Estate Division, originated the loan.

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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Associated Banc-Corp (NYSE: ASB) has total assets of $41 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from nearly 200 banking locations serving over 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, 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