Hilco Real Estate, LLC today announced the offering of a portfolio of real estate assets owned by Green Bay-based Associated Bank. The sale includes commercial office buildings formerly operated as bank branches. Bank operations at these facilities were recently shut down within the past 60 days. The sale includes a total of five well-located properties throughout Illinois, Minnesota, and Wisconsin being sold individually, together or in any combination.
Included among these marquee properties is a 4,600± square foot former bank building with three lane drive-through located less than one mile east of I-694 in Oakdale, Minnesota. This property is located on an outlet of a Target-anchored shopping center with frontage along a highly visible retail corridor.
The portfolio also includes a single-story building comprising over 5,700± square feet of space located along Main Street and Milwaukee Avenue in the central business district of downtown Fort Atkinson, Wisconsin. The property offers drive-through access and ample parking.
Another property being offered as part of the sale is located along Douglas Road and US 30 in Montgomery, Illinois. This prime retail property offers 2,700± square feet of space in an area of substantial and sustained economic and population growth.
A complete list of the five properties within this offering, including general descriptions and due diligence information is available for viewing at:
Commenting on the portfolio of properties being sold, Joel Schneider, Senior Vice President of Hilco Real Estate, said, “The assets in this portfolio offer a number of use and location-related attributes that will be very attractive to a wide variety of potential buyers. As such, we expect this sale to attract active interest from a broad spectrum of real estate investors, developers and end users.”
Mr. Schneider added, “Virtually all sites are ideal for reuse as bank branches or for adaptive reuse. This sale represents a tremendous opportunity with many of the sites being located near to interstate highways, along major state routes, and in established retail corridors or central business districts.” Buyers should note there is a six-month black out clause for any purchasers who intend to operate the properties as bank branches.
For more information about qualification to participate in the sale and further details about the properties available, please visit www.HilcoRealEstate.com or contact a member of our transactional team at 855-755-2300.
About Hilco Real Estate, LLC: Hilco Real Estate, LLC (“HRE”), a Hilco Global company, is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies & techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.