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Success Story

Reduced Risk of Buying a Building

The Situation Novice Buying Commercial Property

The Wisconsin Hospital Association, a respected First Business client, was offered the opportunity to purchase the building in which it was a long-time tenant. After due diligence, they decided to pursue it cautiously as they’d never had debt and hadn’t purchased commercial property.

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Lack of Expertise

The organization was successful, but the executives hadn’t had the opportunity to buy before. They quickly realized they wanted to tap into outside expertise to avoid costly mistakes.
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Vacant Space to Lease

They didn’t need the entire building, so finding the right tenant would optimize their financial situation and reduce the purchase risk.

The Solution First Business Expertise & Connections

As a current client, Wisconsin Hospital Association works with First Business for Investment Management and Treasury Management. Their First Business representative guided them to a member of our Commercial Lending team for expertise and connections to ensure a smooth building purchase process.

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Process Explained

Purchasing commercial property is much different than buying a house. Tom Dott, First Business Vice President of Commercial Lending met with Brian Potter, COO, Wisconsin Hospital Association to recommend an evaluation process, and explain several loan options.
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Experts Recommended

Based on the Wisconsin Hospital Association’s needs, our experts connected them with real estate attorneys, building appraisor specialists, building inspectors, and environmental engineers. We also advised on key topics to evaluate and discuss surrounding these third parties.
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Tenant Connection

First Business kept this client’s business needs in mind, and through its interactions with other clients, discovered a perfect tenant for their building.

"We have been very happy with our long-standing relationship with First Business Bank from both the banking and investment management perspective. This property purchase opportunity came out of nowhere. FIRST BUSINESS WAS A HUGE HELP.

— Brian Potter, COO, Wisconsin Hospital Association

NOTICE

Access to Online Private Banking is intermittently unavailable; users may not be able to access it at this time. We are working to restore access as soon as possible. If you have questions, please contact us at: 855-257-4149.

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NOTICE

Access to Online Business Banking is intermittently unavailable; users may not be able to access it at this time. We are working to restore access as soon as possible. If you have questions, please contact us at:

• Wisconsin Region: 608-232-5938
• Kansas Region: 913-717-6464

NOTICE

Access to our Remote Deposit Capture system is intermittently unavailable; users may not be able to access it at this time. We are working to restore access as possible. If you have questions, please contact us at:

  1. Wisconsin Region: 608-232-5938
  2. Kansas Region: 913-717-6464

NOTICE

To protect clients and employees, we temporarily suspended courier service. For other deposit needs, please see your client email sent on 3/16/2020 for instructions regarding deposits at your local First Business Bank office.

To set up Mobile Banking, please contact our Treasury Management Support team at 608-232-5938. We will alert you when courier service is available again. Thank you.