Associated Bank Provides $19.3 Million Construction Loan for Mariano’s Grocery Store

by Katie Sloan

Des Plaines, Ill.  — Associated Bank has completed a $19.3 million loan for the land acquisition and construction of a Mariano’s Fresh Market grocery store in Des Plaines, approximately 20 miles northwest of Chicago.

Golf Road Ventures LLC, a joint venture of Abbott Land and Investment Corp. and WBS Equities, is the borrowing entity. The 73,317-square-foot store will be located at 10 E. Golf Road. Construction is set to begin this spring and completion is expected for the spring of 2017.

Working with the Illinois Department of Transportation, Golf Road Ventures is funding over $1 million in improvements to the traffic intersection, including the addition of a turn lane and traffic signals. Working with the Des Plaines Park District, the developer is also contributing approximately $750,000 toward road, parking and field improvements for nearby Blackhawk Park.

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