Byline Bank’s Commercial Real Estate Group (BCREG) has closed on $17 million in financing to TradeLane Properties for the acquisition and future capital improvement of two industrial properties located at 5750 W. 118th St. and 11700 S. Central Ave. in Alsip, Ill. This is the 14th transaction in five years between Byline Bank and TradeLane Properties as the real estate company seeks to acquire well-located industrial assets with a value-add component.

The properties are located in a well-established industrial submarket that benefits from excellent regional connectivity due to proximity to major highways and rail access. 5750 W. 118th St. is a 366,869-square-foot manufacturing facility built between 1996 and 2000 that features exterior dock doors, existing bridge cranes, 480 expandable parking stalls and active multitrack rail service via Indiana Harbor Belt. TradeLane has plans for extensive repositioning of this unique asset, including replacing the roof, paving, exterior and interior painting, landscaping and preparing the office space for lease.

The second property, 11700 S. Central Ave., is an 84,376-square-foot, fully leased front-load distribution center situated on 4.5 acres. The building was constructed in 1990 and features a 4,500-square-foot office space, 15 exterior dock high doors, a drive-in door and 26 auto parking stalls.

“We’re proud to continue supporting TradeLane Properties in their strategic expansion across various Midwestern industrial markets,” said Matt Robertson, Senior Vice President of BCREG at Byline Bank. “This transaction is a testament to the strength of our relationship and our shared commitment to investing in high-potential assets that drive long-term value.”

This deal is part of a larger, national trend of investment in Class B value-add properties in infill markets.

“This acquisition aligns with our strategy of targeting well-located, flexible industrial assets that can support a wide range of uses—from distribution to manufacturing,” said Brendan Sheahan, Vice President and Market Officer at TradeLane Properties. “We’re grateful to continue our longstanding partnership with Byline Bank, whose deep understanding of our goals and responsive approach to financing have been instrumental in our continued growth.”

About Byline Commercial Real Estate Group
Byline’s Commercial Real Estate Group (BCREG), headquartered in Chicago, provides first mortgage construction, bridge and permanent loans secured by properties in the Chicagoland area as well as nationwide for Tier One customers. Since 2014, BCREG has closed $2.6 billion of loans for its target market, focusing on multifamily (including student housing and active adult), industrial, self-storage and retail properties. For more information, visit bylinebank.com/commercial-real-estate.

About TradeLane Properties
TradeLane Properties is a privately held industrial real estate company committed to harnessing its founders’ expertise in acquiring, developing, redeveloping, and operating industrial real estate facilities focused on the Central U.S. markets of Chicago, Cincinnati, Columbus, Indianapolis, Louisville, San Antonio, and Dallas-Forth Worth.  For more information, visit www.tradelaneproperties.com or call Kari Jones at (630) 320-5501.