Associated Bank completes $11.7M financing for shopping center in northern Chicago suburb

CHICAGO - November 12, 2025 - Associated Bank announced the closing of a $11,734,000 construction loan for GTZ Properties for the development of a four-building, multi-tenant shopping center on a vacant parcel at 1300 Half Day Road in Bannockburn, Illinois.

The 23,864 square foot multi-tenant, grocery shadow-anchored shopping center is being developed on a 5.27-acre corner lot at the busy intersection of Waukegan and Half Day Roads. The project is adjacent to a Mariano's grocery store and across the street from a Heinen's grocery store.

The project is 93-percent pre-leased with only one space remaining. Signed leases include: Wells Fargo Bank, Chipotle Mexican Grill, Heart Certified Auto Care, Just Salad and a nail salon. The Gardner School is purchasing a parcel to develop the fifth building on the property as an early-childhood education center. The shopping center's completion is scheduled for the summer of 2026.

GTZ Properties a Chicago based, full service commercial real estate development and investment company specializing in retail related properties nationwide. Daniel Barrins, a senior vice president with Associated Bank's Commercial Real Estate division, handled the loan arrangements and closing. This is Associated Bank's 16th financing collaboration with Mitch Goltz, principal of GTZ Properties.

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 www.associatedbank.com