Associated Bank Closes $11.7M Construction Loan for Bannockburn Shopping Center Development

Reuters
Nov 13
Associated Bank Closes $11.7M Construction Loan for Bannockburn Shopping Center Development

Associated Bank has closed an $11.7 million construction loan with GTZ Properties for the development of a four-building, multi-tenant shopping center on a vacant parcel at 1300 Half Day Road in Bannockburn, Illinois. The 23,864 square foot project, adjacent to Mariano's and across from Heinen's grocery stores, is 93 percent pre-leased to tenants including Wells Fargo Bank, Chipotle Mexican Grill, Heart Certified Auto Care, Just Salad, and a nail salon. The Gardner School is also purchasing a parcel to build an early-childhood education center as the fifth building on the property. The shopping center is scheduled for completion in summer 2026. This marks Associated Bank's 16th financing partnership with GTZ Properties principal Mitch Goltz.

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