Schaumburg, Ill. — Associated Bank has provided a $14.5 million refinancing and construction loan for a multi-tenant retail project in Schaumburg.
Known as Woodfield Gatherings, the three-building, 30,074-square-foot retail property was formerly home to a parking lot for a J.C. Penney store. Chuy’s, Naf Naf Grill, Mod Pizza and Honey Grow have all signed leases at the new development. Chuy’s is currently open for business, while the remaining tenants will open in April. Daniel Barrins of Associated Bank originated the loan on behalf of the borrower, Shorewood Development Group.