Byline Bank Closes $9.25M Loan To LSC Development For Lombard Office Conversion

The property involved in this transaction is an office building located at 665 West North Avenue, Lombard, IL, with a total square footage of 103,109 and situated on 10.5 acres. The transaction involves a loan amounting to $9,250,000 for the conversion of the office building into a climate-controlled self-storage facility, specifically 67,853 square feet of storage space that will also feature RV parking.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $9,250,000
• Asset Square Footage: 103,109
• Asset Acres: 10.5
• Lender: Matt Robertson & John Nikolich - Byline Bank
• Landlord: Christopher Barry - LSC Development

The transaction reflects collaboration among key individuals, with Matt Robertson and John Nikolich acting as representatives from Byline Bank, facilitating the loan to LSC Development, represented by Christopher Barry. This project represents a trend in adaptive reuse, focusing on transforming vacant office spaces into functional storage solutions and is expected to be completed by early 2026.