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Byline Bank Provides $17M to TradeLane for Chicagoland Industrial Properties
Byline Bank’s Commercial Real Estate Group (BCREG) has closed on $17 million in financing to TradeLane Properties for the acquisition and future capital improvement of two industrial properties located at 5750 W. 118th St. and 11700 S. Central Ave. in Alsip, Illinois.
This is the 14th transaction in five years between Byline Bank and TradeLane Properties as the real estate company seeks to acquire well-located industrial assets with a value-add component.
The properties are located in a well-established industrial submarket. 5750 W. 118th St. is a 366,869-square-foot manufacturing facility built between 1996 and 2000 that features exterior dock doors, existing bridge cranes, 480 expandable parking stalls and active multitrack rail service via Indiana Harbor Belt.
The second property, 11700 S. Central Ave., is an 84,376-square-foot, fully leased front-load distribution center situated on 4.5 acres. The building was constructed in 1990 and features a 4,500-square-foot office space, 15 exterior dock-high doors, a drive-in door and 26 auto parking stalls.
