Finance N Illinois

Associated Bank finalizes $5.5M loan for warehouse in McHenry, Illinois

Associated Bank finalizes 5.5M loan for warehouse in McHenry, Illinois,ph1

Associated Bank has completed a $5,560,000 bridge loan to Midwest Industrial Funds for acquisition of a 218,000-square-foot industrial warehouse facility at 1301 Ridgeview Drive in McHenry, Illinois. Built in 1995, the air-conditioned building is located on almost 20 acres and has 20 exterior loading docks with exterior parking for 519 cars and 40 trailers. Approximately 50 percent of the space is leased to Disk.com.

Senior vice president Krista Casper of Associated’s Chicago-based commercial real estate division originated the loan. Midwest Industrial Funds is a vertically integrated industrial real estate investment, development, asset management and advisory company that has acquired, developed and sold over six-million square feet of industrial buildings and over 290 acres of land valued in excess of $300 million.