Replies to post #245 on Northern States Financial Corp. (fka NSFC)

[TRAPPER JIM]

NSFC opening new branch office in January 2016
The property they sold for 1.4 mil is having a new branch bank built on site and NSFC will be leasing it for 25 yrs.
http://theyoujournal.com/2015/08/new-branch-slated-for-norstates-and-dramatic-change-to-former-site/
The one-story, 2,356-square-foot branch will be a red brick building on a one-acre lot with three drive-up lanes. NorStates used to own five acres at the branch. To liquefy its real estate holdings, it sold four acres to Bluestone Single Tenant Properties, a Chicago developer, which will build the gas station. La Macchia Group of Milwaukee is the developer of the bank branch building on the remaining one acre. NorStates will lease the building back on a 25-year lease. Construction is expected to complete in January, according to Ben La Macchia of the development company.