Associated Bank completes $36.8M loan for acquisition and expansion of Crystal Lake, Illinois manufactured community

CHICAGO - January 24, 2022 - Associated Bank announced completion of a $36,840,000 loan to a partnership of Marc Realty and Ravinia Communities for the acquisition and expansion of Oakbrook Estates, a manufactured community at 917 Crookedstick Court in Crystal Lake, Illinois.

Located two miles east of downtown Crystal Lake, Oakbrook Estates is an age-restricted, 300 home active-adult community. Purchase of the property, described as a "picturesque setting with natural rolling terrain, thick aged oak trees, and waterfront scenery," included excess land on which another 114 additional homes sites will be created. Chicago Metra's Pingree Road Station is located less than two miles northwest of site, providing commuter rail access to Chicago's central business district.

Marc Realty is a full-service commercial real estate company that owns, leases and manages commercial real estate primarily located throughout the Chicago area. Based in Chicago, Ravinia Communities is engaged in the acquisition, management and development of manufactured housing communities throughout the United States.

Associated Bank was the lead arranger and administrative agent, working with Great Southern Bank. Edward "Ted" Notz, a senior vice president with Associated Bank's Commercial Real Estate Division, together with Associated Bank's loan syndications team, handled the loan arrangements and closing.

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.

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ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of $35 billion and is Wisconsin's largest bank holding company. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from more than 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, 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.