Associated Bank Provides $7.62M Construction Loan for 40-Unit Multifamily Development in Chicago's Uptown Neighborhood

Associated Bank has closed a $7.62 million construction loan to finance the development of a 40-unit transit-oriented apartment building in Chicago's Uptown neighborhood, the bank announced March 2, 2026. The commercial real estate financing supports a multifamily project by CEDARst Companies. The developer's headquarters location was not disclosed in the announcement.

Deal Details: Construction Financing for Clifton Uptown

The project, known as Clifton Uptown, is located within the Uptown Square Historic District. Associated Bank is serving as the lender on the construction debt, providing $7.62 million in financing. CEDARst Companies is acting as the general partner and developer on the project. Specific loan terms, including interest rate, loan term, and loan-to-value ratio, were not disclosed in the announcement.

The development is described as transit-oriented, reflecting its proximity to public transportation infrastructure.

Associated Bank's Role in CRE Financing

Associated Bank, headquartered in Green Bay, Wisconsin, has maintained an active commercial real estate financing practice. The Clifton Uptown construction loan represents the bank's engagement in urban multifamily real estate development in the Chicago market.

No completion timeline or projected lease-up schedule for the Clifton Uptown development was disclosed in the announcement.