High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Chicago & Midwest  + Downtown  + Retail  | 
Byline Bank will merge with Inland Bancorp in a deal valued at $165 million

Byline Bank Will Consolidate Branches, Sell Off Real Estate

Chicago-based Byline Bancorp, Inc. said Friday it would continue to optimize its branch network, dispose of a portfolio of owned real estate properties and reduce its office square footage to adapt to changes in customer behavior and improve operating efficiencies.  

Byline Bank will consolidate six of its 44 full-service branches during the second quarter of 2022. The company intends to dispose of a real estate portfolio that includes former branch locations and other properties.  

Alberto J. Paracchini, president of Byline, commented, “The strategic actions we are taking are the result of our continued focus to position ourselves to meet our customers’ current and evolving banking needs. While we believe branches are, and will continue to be, an essential part of delivering banking services, we also recognize the need to continue to invest in our digital channels to adapt to the way customers want to conduct their banking with us.” 

Connect

Inside The Story

Byline Bank

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).

  • ◦Lease
  • ◦Sale/Acquisition
New call-to-action
New call-to-action