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Shorewood Development Group Secures $22.6M Loan From Associated Bank For Chase Plaza Redevelopment

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FINANCED
$22,600,000
DB
LI

Illinois

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Retail66,083 SF
Financed 04/30/2026
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Property Image
FINANCED

Shorewood Development Group Secures $22.6M Loan From Associated Bank For Chase Plaza Redevelopment

1160 Lake Cook Road

See Similar Deals
Retail66,083 SF
Financed 04/30/2026
DB
LI
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$342
Total Square Footage:66,083 SF
Transaction Type:Loan

The transaction involves the acquisition and redevelopment of a vacant former grocery store located at 1160 West Lake Cook Road in Buffalo Grove, Illinois. The asset comprises 66,083 square feet of retail space and represents a significant investment in the area.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $22,600,000
  • Lender: Daniel Barrins - Associated Bank
  • Landlord: Louis Schriber III - Shorewood Development Group
  • Market: Buffalo Grove

This deal marks Associated Bank's 13th financing agreement with Shorewood Development Group, reflecting a long-standing relationship between the two entities. The project, branded as Chase Plaza, will feature a two-tenant center anchored by Sprouts Farmers Market and a new Club Studio location.

Details

FINANCED
IMAGE: Daniel Barrins & Louis Schriber III DATE: 04/30/2026 ADDRESS: 1160 West Lake Cook Road MARKET: Buffalo Grove ASSET TYPE: Retail ~ SF: 66,083 LENDER: Daniel Barrins - Associated Bank (@AssociatedBank) LANDLORD: Louis Schriber III - Shorewood Development Group LOAN AMOUNT: $22,600,000 NOTE: Associated Bank closed a $22.6M loan to Shorewood Development Group for the acquisition and redevelopment of a vacant 66,083-square-foot former grocery store in Buffalo Grove, Illinois.The project, branded Chase Plaza, will convert the long-empty retail site into a two-tenant center anchored by Sprouts Farmers Market and a new Club Studio location, marking Associated Bank’s 13th financing deal with the developer.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$22,600,000.00

Monthly NOI$150,666.67
Monthly Debt Service$142,847.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00