Associated Bank finalizes $21.1M financing for Chicago mixed-use building conversion to multifamily units

CHICAGO - October 22, 2025 - Associated Bank announced the completion of a $21,140,000 construction loan for Wildwood Investments, LLC, and Concord Capital to convert an existing 93,707 square foot retail/office building at 230 East Ohio Street, Chicago, into 72 multifamily units.

The seven-story property will offer a mix of studio, one- and two-bedroom units with an average size of 811 square feet. Existing first floor retail, which includes Dao Thai Restaurant & Noodle Palace, Eye Society and YA Skin Studio, will be open both throughout and following construction. Located in what's known as the Streeterville area, Lake Michigan and the Ohio Street Beach are three blocks east of the building, and Michigan Avenue is one block west. Construction completion is expected December 2026.

Wildwood Investments LLC is a boutique development, investment and advisory firm focused solely on multifamily real estate. Based in Chicago, Wildwood specializes in the development of new construction apartment projects in Chicago ranging from 40-100 units in a sponsor capacity. For larger projects, Wildwood forms joint venture relationships.

Concord Capital is a Chicago-based real estate investment and development firm specializing in multifamily and adaptive reuse projects. The vertically integrated company manages all service lines in-house, including construction, leasing and property management. While Concord Capital's current strategy is focused on the Chicago market, the firm has previously invested across multiple regions, including Texas, Michigan, Wisconsin, Kansas City and Indiana.

Elizabeth Hozian, a senior vice president with Associated Bank's Commercial Real Estate group, handled the loan arrangements and closing.

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 $44 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 nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois, Minnesota and Missouri. 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.