**Byline Bank Funds Office-to-Self-Storage Conversion in Lombard**
Byline Bank’s Commercial Real Estate Group (BCREG) has closed a $9.25 million loan with LSC Development to convert an office building into a fully climate-controlled, state-of-the-art self-storage facility in Lombard, Illinois.
The 103,109-square-foot building, situated on a 10.5-acre site at 665 W. North Avenue, will be redeveloped into a 67,853-square-foot, climate-controlled self-storage facility. The project also includes 64 secured surface parking spaces designated for both RVs and standard vehicles, encompassing an additional 14,800 square feet.
In this transaction, Byline Bank was represented by the law firm Blank Rome, while LSC Development was represented by Duggan Bertsch, LLC.
“It’s no secret that office usage has declined significantly over the last five years, and building owners need to find creative ways to bring new purpose and value into these vacant spaces,” said Matt Robertson, Senior Vice President in Byline’s Commercial Real Estate Group. “LSC Development took the opportunity to acquire this property and transform the unused space while leaving existing tenant offices intact.”
In related industry news, the Connect Midwest Multifamily 2025 conference will be held on June 4, 2025, at The Midland Hotel in Chicago, Illinois. The event will feature the Lifetime Achievement Award presentation and a keynote interview with Greg Mutz, Chairman & CEO of Amli Residential Partners, LLC, conducted by Fred Schreiber, Chief Operating Officer. Attendees are encouraged to register early and take advantage of the opportunity to connect with industry professionals.
Stay tuned for more updates on major commercial real estate developments and market trends.
