Associated Bank finalizes $22.6M loan for redevelopment of vacant retail space in Buffalo Grove, Illinois

CHICAGO - April 30, 2026 - Associated Bank announced the completion of a $22,600,000 loan to Shorewood Development Group for the acquisition and renovation of a vacant 66,083 square foot former grocery store at 1160 W. Lake Cook Road in Buffalo Grove, Illinois. The acquisition, at the intersection of Lake Cook and Arlington Heights Roads, also included an outlot site.

The new Chase Plaza project will convert the vacant retail space into a two-tenant, grocery-anchored retail building occupied by Sprouts Farmers Market and Club Studio fitness center. The space has been vacant for years and the renovation will add a new grocer to the area as well as the first Club Studio in the northwest Chicago suburbs

Shorewood Development Group, LLC, is a full-service, tenant-driven, retail developer specializing in quality developments. The company leverages a vast network of relationships in both the real estate and investment community to help real estate partners take challenging growth plans from concept to reality.

Daniel Barrins, a senior vice president with Associated Bank's Commercial Real Estate division in Chicago, managed the loan arrangements and closing. This is Associated Bank's 13th loan to Shorewood Development Group.

Associated Bank's Commercial Real Estate division is committed to providing commercial real estate developers/owners/operators with an array of financing solutions, in addition to products and services that meet their unique needs The division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Texas and Wisconsin.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of approximately $50 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from over 200 banking locations throughout Wisconsin, Illinois, Iowa, Minnesota, Missouri and Nebraska.

The Company also operates loan production offices in Indiana, Kansas, Michigan, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at https://www.associatedbank.com.