Associated Bank Provides $11.7 Million Construction Loan for Retail Center in Metro Chicago

Bannockburn, Ill. — Associated Bank has provided an $11.7 million loan to GTZ Properties for the development of a four-building, multi-tenant retail center on a vacant parcel in Bannockburn, approximately 30 miles north of Chicago. The 23,864-square-foot project is situated on a 5.3-acre corner lot adjacent to a Mariano’s grocery store and across the street from a Heinen’s grocery store. The development is 93 percent preleased with one space remaining. Signed leases include Wells Fargo Bank, Chipotle, Heart Certified Auto Care, Just Salad and a nail salon. The Gardner School is purchasing a parcel to develop the fifth building on the property for an early childhood education center. Completion of the retail center is scheduled for summer 2026. Daniel Barrins of Associated Bank handled the loan arrangements and closing.