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Chicago & Midwest  + North Side  + Apartments  | 

Associated Bank Furnishes Loan for Uptown Redevelopment

Associated Bank has completed a $12,960,000 loan for the acquisition of an existing retail shopping center and surface parking lot at 4501 N. Sheridan Rd. in Chicago’s Uptown neighborhood. 

The development will be a joint venture between Mavrek Development and GW Properties. Mavrek will also act as the general contractor.

Plans are to demolish the existing center and build a new five-story, mixed-use building, consisting of 7,035 square feet of ground-floor retail space, 59 apartments and 36 surface parking spaces. The apartments will be built larger than the traditionally smaller units available in the Uptown area.

SVP Daniel Barrins with Associated Bank’s commercial real estate group handled the loan arrangements and closing. This is Associated’s first loan with Mavrek and its 14th with GW Properties. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types as well as delving into broader subject matter. He produces 15-20 daily news stories per day and also works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.

  • ◦Financing
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