NEW BUSINESSES OPENING AND EXPANDING IN THE CITY OF MCHENRY AND VACANT BUILDINGS BEING FILLED: BULLDOG ALEHOUSE; NEXT AUTO; AMERICAN CUSTOMS; ADVANCED FLEET REPAIR; AMERICASH LOANS AND AMI GROUP!!!!

BULLDOG ALEHOUSE COMING TO THE CITY OF MCHENRY

Bulldog Alehouse, focusing on quality food and a very extensive list of craft beers available on-tap is closing in on a new location:  209 N Front Street (most recently Las Palmas Restaurant).  This will be their seventh location with existing locations including:  Roselle, Carol Stream, Bolingbrook, North Aurora, New Lenox and their most recent location in Rolling Meadows.  We are very excited Bulldog Alehouse has chosen the City of McHenry to open a new restaurant.  Interior design renovations and outdoor cosmetic adjustments to tailor the building to their unique brand will be completed and anticipated opening is most likely early summer 2016.  Bulldog Alehouse will be occupying a building which has been vacant for several years and is a new business opening in the City of McHenry.

MORE VACANT BUILDINGS BEING FILLED

Next Auto Sales, formerly located at 3706 W Elm has moved into the building located at 1112 N Front Street, formerly Overton Cadillac.  Next Auto has been extremely successful and sells trucks and cars and will have an indoor and outdoor display area.  Although this is a relocation of an existing business the former building was less than 500 square feet.  Next Auto will occupy a formerly vacant 10,000 square-foot building and be able to grow their existing business while remaining in the City of McHenry.

American Customs, a custom motorcycle repair and restoration business with ancillary sale of parts and related-merchandise has moved into 908 Front Street Unit B.  American Customs will also lease U-Haul trucks and trailers from this location.  This fills a 6,600 square-foot space and completes the occupancy of the building at 908 Front Street, which has four separate businesses within the building.  American Customs is a new business opening in the City of McHenry.

Americash Loans, an existing consumer loan agency and financial business is relocating their business from its present location at 4213 W. Elm Street to a new larger location at 4405 W. Elm Street.  Their intent is to continue business in the same manner, and the new location will offer an upgrade in services for customers and employees as well.  Although Americash is an existing business in the City of McHenry the new location will fill a formerly vacant 2,800 square-foot building and facilitate the growth of a existing business remaining in the City of McHenry.

Advanced Fleet Repair is moving their business from a town south of the City of McHenry and filling a vacant building located at 1401 North Drive.  Advanced Fleet Repair specializes in repair of fleet vehicles, trucks, diesel engines, etc.  Advanced Fleet Repair is a new business opening in the City of McHenry.

AMI Group, Inc. a temporary staffing and insurance agency, which specializes in placing people in industrial/manufacturing positions opened at 311 N Front Street.  AMI Group Inc. is a new business opening in the City of McHenry.

REAL ESTATE BROKER OPEN HOUSE

We held our First 2016 Real Estate Broker Open House on February 11, 2016 at the Municipal Center.  Fifteen people attended including:  Mayor Low, Ross Polerecky, Director of Community Development City of McHenry, Dorothy Wolf City of McHenry; representatives from the commercial/industrial brokerage community; McHenry County Workforce Network; Small Business Development Center; McHenry High District 156; State of Illinois and Nicor Gas. 

The purposed of these open houses is to remain in contact with commercial/industrial real estate brokers to ensure as a City and myself as Director of Economic Development, are doing whatever we can to facilitate business attraction, expansion and retention.  Additionally I have asked people to come and speak at these informal gatherings.  

On February 11 we had a very dynamic speaker, Bruce Heggeland from the Illinois Manufacturing Foundation.  It was an extremely interactive meeting and will serve as a springboard to bigger and better things. I am beginning to follow-up to build off this discussion which centered on building a sustainable workforce for the future.  I have shared Bruce’s information with the State of Illinois and am working on planning future events/efforts which we can build upon from the event on February 11 and would welcome any ideas/thoughts to this same regard.   I plan on keeping in contact with Bruce, as he is an excellent resource and believe the work he is doing is vital to our region's economic success and sustainability and his ideas are very exciting!

I mentioned Ross Polerecky, whom many of you may know (has been with the City of McHenry for more than eight years) and is our new Director of Community Development, in charge of building, code enforcement and working in conjunction with me on planning and zoning issues. I would encourage you to reach out to Ross if you do not know him.   We welcome your feedback:  good, bad, indifferent, comments, suggestion and want to hear because our goal is to make it as easy as possible for businesses to locate, expand and remain in the City of McHenry.  

MINOR DETAILS!

MCHENRY RECREATION CENTER WILL OPEN TO THE PUBLIC ON FEBRUARY 29, 2016!!!!!!!

THANK YOU TO EVERY BUSINESS WHO HAS MADE A COMMITMENT TO LOCATE THEIR BUSINESS, EXPAND THEIR BUSINESS OR KEEP THEIR BUSINESS IN THE CITY OF MCHENRY!!!  EVERY ONE COUNTS!!!

As I’ve stated in a past post, even if all buildings were occupied economic development would nonetheless always remain a top priority due to its dynamic nature.  I mean this as economic development in a holistic sense:  business growth, expansion and retention, community events and festivals, (eco, heritage and agri) tourism, education, healthcare-all of which contribute to an environment conducive to sustaining and growing a healthy local economy!!!!!!!!!!

Remember, economic development is continually changing and adapting to meet the needs of consumers and producers.  Many uses are finite and vacant buildings in any community are a normal part of the business/economic development lifecycle but those vacant buildings will be filled, some quicker than others, as companies, market and economy continually evolve.  

CONTINUE THE DISCUSSION…EVERY ONE CONTRIBUTES!!!!!

Please help us keep our community vibrant and strong to the greatest extent practical for businesses, residents and visitors alike!  The City Council is continually evaluating ways to assist in promoting business, tourism, community events and service!  Economic development is an ongoing effort the City is committed to and is a community-wide effort.  At the end of the day the entire community and everyone who is a part of it benefits!

  

Douglas P. Martin

Director of Economic Development

City of McHenry

333 S Green Street

McHenry, IL 60050

815.363.2110 (d)

815.363.2173 (f)

815.790.4752 (c)

dmartin@ci.mchenry.il.us

www.ci.mchenry.il.us

http://www.ci.mchenry.il.us/departments/development/economic.html

McHenry Market Pulse

DESPITE CITY COUNCIL’S UNANIMOUS APPROVAL OF ZONING REQUEST U-HAUL IS NOT PURCHASING FORMER WAL-MART BUILDING AND PROPERTY AT 2019 N RICHMOND ROAD....NEW BUSINESSES IN THE WORKS!!!!

Many of you may have read the article in the Northwest Herald, stating U-Haul was approved by the City Council to conduct a truck and trailer rental and indoor storage facility, agreed to set aside just over an acre of property for a future outlot along Richmond Road and was set to purchase the former Wal-Mart building and site at 2019 N Richmond Road.  The City learned a few days ago U-Haul is not moving forward with the purchase; why?  Consider these points:

 

In real estate transactions such as this there are several steps, and a transaction of this size is very complex.  It should be noted that all of these steps are not ubiquitous to all real estate transactions and lease/purchase can be interchangeable depending on the situation.  Also, the City is not privy to or have knowledge pertaining to the various details of any private real estate transaction. 

 

First, in many real estate transactions, there is often a letter of intent, which is submitted by the interested party to the seller.  The letter of intent or LOI is a non-binding step which signifies an interest in a property.  Defined by the International Council of Shopping Center’s (ICSC) Dictionary of Shopping Center Terms Fourth Edition: “letter of intent (LOI):  Generally a document submitted prior to a formal lease.  It serves to delineate the intentions between the landlord and a tenant.  Basic issues, including minimum rent, percentage rent, pass-through expenses, and other major points of negotiation, are outlined.  Generally subject to execution of a complete contract.  The expression of a desire to enter into a contract without actually doing so.”

 

Following the LOI the prospective purchaser will often enter into a real estate contract with the seller.  Defined by the International Council of Shopping Center’s (ICSC) Dictionary of Shopping Center Terms Fourth Edition: “contract:  An agreement by which two legally competent persons promise to obligate each other to do something.” The contract typically includes:  a due diligence period (specified time period a prospective buyer has to complete all their entitlement work on the property which provides them a comfort level to proceed with the transaction) and may include:  provisions for earnest money, how much and when and if earnest money is required and becomes non-refundable; ensuring there is a clean title report on the property; ordering a survey of the site and often conducting a site and building assessment, broker compensation, obtaining a financing and title commitment and necessary approvals from third parties (governmental and private entities); 99.9% of real estate transactions similar to U-Haul and Wal-Mart include numerous contractual contingencies and more often than not one is obtaining zoning approval for the use which the buyer intends to utilize the property prior to the real estate transaction being finalized. 

 

Following receipt of zoning approval and prior to expiration of the due diligence period, which often can be extended, the real estate transaction between the buyer and seller is formally consummated at a closing similar to buying a house.  In this instance, the City Council approved U-Haul’s zoning request on January 18, 2016 and U-Haul and Wal-Mart anticipated formally closing and finalizing the purchase of the former Wal-Mart site within one to two weeks thereafter.  The City was informed by the broker for Wal-Mart a few days ago the purchase of the former Wal-Mart site by U-Haul will not occur. 

 

Why?  Similar to buying a house, from the initial walk-thru, building inspection, environmental testing, through obtaining financing and a title commitment and the final walk-thru so many things can occur which can influence one or both parties and not provide the needed comfort level (to one or both parties) to move forward and result in a real estate transaction from not occurring.  Is this unusual?  No it is definitely frustrating and disappointing for all parties involved but also a distinct realty which happens more often than you may think in transactions such as this.

 

Did the City of McHenry have anything to do with this and could the City have prevented this from occurring?  Is U-Haul definitely not purchasing the former Wal-Mart site or is this merely a delay?  As previously stated, following City Council approval of a project the private real estate transaction between the buyer and seller still needs to occur.  The City is not responsible the purchase of the property will not occur, and while the City can attempt to mediate or “intervene” if some issue(s) between the private parties is not resolved the City’s role is minor and only occurs if requested to do so by one or both of the two private entities because at the end of the day it’s a private real estate transaction. 

 

It is also normal for a newspaper to report the City Council’s approval of the request made by U-Haul which often provides excitement and positive emotional buildup within the community but at the same time the City Council is only approving the zoning on the property and has nothing to do with actual real estate transaction.  Finally, the City has confirmed with the Wal-Mart broker that the transaction between U-Haul and Wal-Mart has been officially terminated.

 

Where do we go from here?  The good news, although as previously stated, this is very disappointing for all parties involved, particularly City residents and businesses, the City has already been exploring alternative avenues with the Wal-Mart broker which are currently being pursued.  However, it will take some time to complete the aforementioned steps with any new buyer interested in the site although the City is very optimistic about the former Wal-Mart site being purchased by another party in the near future.  The City has a great relationship with the Wal-Mart broker and he is extremely tenacious and the City will continue to collaborate and work until this site is sold.  We can promise you that!

 

 

MEAT AND POTATO EATERY TO OPEN AT 400 S ILLINOIS ROUTE 31

 

Meat and Potato Eatery, a new restaurant concept which will include video gaming, will soon open at 400 S Illinois Route 31 (formerly Blue Cherry Yogurt).  The same restaurateurs who operate Brunch Café will open a new restaurant concept directly to the west and in the same building as Brunch Café.  This will provide another dining option and compliment Brunch Café and the incredible success that restaurant has enjoyed.  Hours of operation will be Sunday through Thursday, 11:00 a.m. to 9:00 p.m. and Friday and Saturday from 11:00 a.m.  to 11:00 p.m.  Seating capacity will be approximately 50 to 60.  Anticipated opening is late February/early March 2016.

 

MINOR DETAILS!

 

NEW RESTAURANT IS IN THE WORKS AND COMING SOON TO 4621 ELM STREET!!!

 

MCHENRY RECREATION CENTER WILL OPEN TO THE PUBLIC ON FEBRUARY 29, 2016!!!!!!!

 

THANK YOU TO EVERY BUSINESS WHO HAS MADE A COMMITMENT TO LOCATE THEIR BUSINESS, EXPAND THEIR BUSINESS OR KEEP THEIR BUSINESS IN THE CITY OF MCHENRY!!!  EVERY ONE COUNTS!!!

 

Remember even if all buildings were occupied economic development would nonetheless always remain a top priority for the City due to its dynamic nature.  Economic development in a holistic sense:  business growth, expansion and retention, community events and festivals, (eco, heritage and agri-tourism, education, healthcare) all contribute to an environment conducive to sustaining and growing a healthy local economy!!!!!!!!!!

 

Remember, economic development is continually changing and adapting to meet the needs of consumers and producers.  Many uses are finite and vacant buildings in any community are a normal part of the business/economic development lifecycle but those vacant buildings will be filled, some quicker than others, as companies, market and economy continually evolve. 

 

CONTINUE THE DISCUSSION…EVERY ONE CONTRIBUTES!!!!!

 

Please help us keep our community vibrant and strong to the greatest extent practical for businesses, residents and visitors alike!  The City Council is continually evaluating ways to assist in promoting business, tourism, community events and service!  Economic development is an ongoing effort the City is committed to and is a community-wide effort.  At the end of the day the entire community and everyone who is a part of it benefits!

Douglas P. Martin

Director of Economic Development

City of McHenry

333 S Green Street

McHenry, IL 60050

815.363.2110 (d)

815.363.2173 (f)

815.790.4752 (c)

dmartin@ci.mchenry.il.us

www.ci.mchenry.il.us

http://www.ci.mchenry.il.us/departments/development/economic.html

McHenry Market Pulse