BUSINESS: Retail Reuse/Fabrication Business May Be Coming To Maywood, Bringing With It Approx. $121K In Annual Property Taxes; Chamber Welcomes New Members

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An overhead image of the property at 50 Madison that Stockyard Brick, LLC. and OBI Deconstruction, LLC. is seeking to acquire. Original image by Google Maps.

Tuesday, June 24, 2014 || By Michael Romain 

Approximately $121,000 In Property Tax Revenues Coming To Maywood?

MAYWOOD–At a May 28, Legal, License and Ordinance Committee (LLOC) meeting, the Maywood Board of Trustees unanimously approved the pre-authorization for zoning of 50 Madison Street, which is historically significant as the former Maywood Armory. The Armory was where the 33rd Infantry Division of the Illinois National Guard was based. After Roosevelt signed the Draft Act in 1940, that infantry division would be merged into Company “B” of the 192nd Tank Batallion, which would go on to face the infamous Bataan Death March.

Stockyard Brick, LLC, recently purchased the historically-rich, 43,000 square-foot building due to the need for more space to accommodate more inventory that would be resold by the company’s retail store, ReUse Depot, which currently sits in a 20,000 square-foot building at 1127 Washington Street in Bellwood. In addition to the property at 50 Madison, Stockyard also purchased 33 Legion, an adjoining property, which will house the company’s fabrication business. If and when all of the legal requirements are met to finalize the purchase and complete the move to Maywood, Stockyard will be sitting on close to 100,000 square feet of indoor and outdoor space.

According to a memo submitted by Angela Smith, the Village’s Business Development Coordinator, the move is projected to generate a fiscal impact of approximately $121,000 in real estate property taxes annually. Once the property is redeveloped, the Cook County Assessor should capture the improvements and the Village’s tax revenues should increase. The memo states that the property receives no economic or tax incentives.

Stockyard went before the Board, because it is seeking to conduct heavy retail activity in an area of the Village that wasn’t zoned for that purpose. The company was effectively asking the Village Board to allow them to petition the Plan Commission “for a text amendment to allow Heavy Retail as a special use in a C-4 district.”

In an April 7, letter to the Village (see memo), OBI Deconstruction, which co-owns the properties with Stockyard, stated that the ReUse Depot “sells reusable building materials that have been carefully harvested from homes that have been deconstructed by OBI Deconstruction, LLC in cooperation with the 501(c)3 nonprofit, The ReUse People of America, Inc. We are licensed retail warehouse partner with of The ReUse People of America. We sell to the general public at prices that are 70% below the current retail market. Our store contains everything that is contained in a house from the structural lumber down to the finish items like electric fixtures.”

The Depot presently employs 5 full-time employees, in addition to 5 part-time workers, but they’re currently looking to hire a marketing coordinator and assistant manager for their new Maywood location. Below are photographs taken by OBI Deconstruction and Stockyard Bricks of the ReUse Depot’s current location in Bellwood.

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Maywood Chamber of Commerce Welcomes Six New Members Within A Year

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MAYWOOD–At its 2014 annual banquet held at Marietta’s Banquet Hall in Maywood, the Maywood Chamber of Commerce announced that it added six new members between June 2013 and May 2014. They included four business, one nonprofit and one local government official. Central Insurance Solutions, Inc., is represented by Jose Kimp, Freedom’s Path (a nonprofit) is represented by Karen Weeks, Melrose Muscle Therapy is represented by Luisa Bernardi Caraballo, State Bank of Countryside is represented by Steven E. Fox, 21st Century Creative Group Corp is represented by Alvina Holland-Robinson and Maywood Village Manager David Myers represents the Village of Maywood. VFP

 

 

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