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Chicago & Midwest  + Greater Chicagoland  + Finance  | 
Oakbrook Estates in Crystal Lake, IL is an age-restrcted manufactured home community

Associated Bank Lends on Crystal Lake Manufactured Homes

Associated Bank completed a $36,840,000 loan to a partnership of Marc Realty and Ravinia Communities for the acquisition and expansion of Oakbrook Estates, a manufactured community at 917 Crookedstick Ct. in Crystal Lake, IL. Located two miles east of downtown Crystal Lake, Oakbrook Estates is an age-restricted, 300-home active-adult community.  

Purchase of the property, described as a “picturesque setting with natural rolling terrain, thick aged oak trees, and waterfront scenery,” included excess land on which another 114 additional homes sites will be created. Chicago Metra’s Pingree Road Station is located less than two miles northwest of the site, providing commuter rail access to Chicago’s CBD. 

Associated Bank was the lead arranger and administrative agent, working with Great Southern Bank. Edward Notz, an SVP with Associated Bank’s commercial real estate division, together with Associated Bank’s loan syndications team, handled the loan arrangements and closing. 

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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 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. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Financing