CRE Midwest

Associated Bank provides loan to Belgravia Group

Associated Bank recently provided a $6.2 million construction loan to Belgravia Group in Chicago. The loan will be used to construct Montana Row, a 14-unit residential row home development in Lincoln Park.

Associated Bank recently provided a $6.2 million construction loan to Belgravia Group in Chicago.  The loan will be used to construct Montana Row, a 14-unit residential row home development in Lincoln Park.

“Associated is pleased to do business with Belgravia Group,” said James Pape, senior vice president, Associated Bank Commercial Real Estate. “Belgravia has built an impressive award-winning reputation by designing and building some of the finest residential projects in Chicago.”

Building only in Chicago, Belgravia is familiar with the city and as a result, has pioneered emerging neighborhoods.

“We were pleased to obtain an acquisition and construction loan from Associated Bank for the Montana Row development,” said Alan Lev, president/CEO, Belgravia Group. “We’ve worked with the bank in the past and have long-term relationships with many of its bankers.

“Montana Row is a unique development of 14 row homes in Lincoln Park which are 25 foot wide with large rear yards and attached garages at prices in the $900s. The first homes will close in early 2013 and others are under construction and available for early 2013 delivery,” Lev said.