Business Comings & Goings: Beverly Bank Closes Deal on Village Property in Oak Lawn
The return of Wonder Bread, Career Education Corp. to close Tinley Park campus, Marquette Bank helps families at Christmas.
Beverly Bank & Trust closed a deal on Jan. 7 to buy a parcel of land owned by Oak Lawn on 95th Street between Raymond Avenue and 53rd Avenue for $1.8 million.
Beverly Bank, which is part of the Wintrust financial group, will build a new bank at the site that will include space for a senior community center.
“We are planning a spring groundbreaking and anticipate opening in the fourth quarter,” said Mike Johnstone, CEO of Beverly Bank & Trust. Johnstone said a temporary facility will be erected on the site prior to the permanent structure being completed.
“We still have to go through the planning process with the village,” Johnstone said. “There are lots of moving pieces with a bank.”
Johnstone said the new building would be from 20,000 to 24,000 square feet.
“It will be modeled on our facility at 103rd Street and Western Avenue,” he said.
Village officials said the project is expected to cost about $6 million and would create about 20 new jobs.
Tria Architecture Inc. of Burr Ridge is handling the design.
Johnstone said no name has been chosen but it will reflect the Oak Lawn community. Village officials called the new facility "Oak Lawn Bank & Trust."
“We are all about the community,” Johnstone said. “We think the community will identify with us.”
The vote early last year to approve the sale was close, with trustees Alex Olejniczak (2nd), Tom Duhig (4th) and Tom Phelan (6th) voting against it.
Mayor Dave Heilmann voted in favor of the sale to break the tie, as well as the motion to table it.
Wonder bread to return
Wonder bread and other Hostess bread brands may be returning to local store shelves as soon as this spring.
The company announced last week that it sold its six bread brands to Georgia-based Flower Foods as part of a $390 million deal that also includes the bread bakery in Hodgkins.
Flower Foods was selected as the “stalking horse” bidder for the bread brands, which means higher competing bids can still be made and the final deal must be approved in bankruptcy court.
Flower Foods made two separate bids for the Hostess breads: a $360 million bid for Wonder, Nature’s Pride, Butternut, Home Pride and Merita, along with 20 bakeries and 38 depots. Another $30 million bid was made for Beefsteak.
Most of those brands were among the products turned out by more than 300 workers at the bakery at 7225 Santa Fe Dr. in Hodgkins.
Flower Foods is best known for its Tastykakes snack cake but also produces Nature’s Own and Cobblestone Mill breads.
The company, which is well established in the east, south and southwest, is ready to stake a claim in the Midwest through its acquisition.
"This agreement is consistent with Flowers Foods' long-term growth objectives to reach significantly more of the U.S. population with its fresh breads, buns and rolls," said Flowers CEO George Deese in a news release. "We believe these assets would enhance our ability, over time, to provide more U.S. consumers with quality baked foods at a good value through existing and new retail and foodservice customers," he said.
Supervalu to sell Jewel-Osco chain
Minnesota-based Supervalu announced last week that it would sell five of its brands, including Jewel-Osco, to a consortium led by Cerberus Capital Management in a deal valued at $3.3 billion.
Supervalu acquired Jewel-Osco in 2006 as part of a larger deal for the Albertsons chain.
The deal is expected to close in the spring.
Also included in the deal are Albertsons, Acme, Shaw’s and Star Market stores.
Supervalu would retain the rest of it brands including the Save-a-Lot discount stores, which are located locally on the South Side of Chicago and in Midlothian.
Officially, AB Acquisition LLC, an affiliate of Cerberus, would buy Jewel and the other stores from Supervalu for $100 million in cash and assumption of about $3.2 billion in debt.
Jewel-Osco, which is still the dominant player in Chicago’s supermarket scene despite losing market share to invaders such as Whole Foods and Roundy’s and smaller chains such as Pete’s Fresh Market and Fairplay Foods as well as increased food competition from Walmart and Target, operates 180 stores, most in the Chicago marketplace.
Speculation since the sale has centered on how long Cerberus will hold onto the stores. In a similar deal in 2006, Cerberus quickly resold 400 of 650 stores it acquired.
The most frequently mentioned bidder for Jewel-Osco, if Cerberus resells the chain, is Kroger, which already operates 19 of its Food For Less discount stores in the Chicago area.
Kroger abandoned the Chicago area decades ago when it closed local stores or sold locations to other supermarket companies.
Sanford-Brown closing Southland campus
Career Education Corp. is closing all three of its Chicago-area Sanford-Brown College campuses in Tinley Park, Hillside and Skokie.
The Tinley campus will be the first one to close in January 2014.
The company is closing 23 campuses as part of a massive restructuring that includes 900 job cuts.
The campuses have stopped accepting new students and will continue to operate until current students finish their degrees.
Marquette Bank donates to families
Marquette Bank, a locally-owned neighborhood bank, held its sixth annual Adopt-a-Family Program where bank employees collect Christmas gifts and distribute them to families in need. This year, Marquette Bank teamed up with 10 local organizations and fulfilled holiday wish lists for over 100 children and adults.
“The holiday season can be a financial strain for some families, especially in today’s economic environment,” Betty Kosky-Harn, Executive Vice President, said. “We’re committed to our local neighborhoods and this program is just one of the many ways we give back to our communities.”
Marquette Bank employees helped raise money to purchase gifts for the Adopt-a-Family Program through an employee-run garage sale and by participating in bankwide Jeans Days, where employees could make a $5 donation to wear jeans to work. Marquette Bank also collected more than 135 toys from business customers through its third annual Neighborhood Toy Drive. The toys were used to help fill the holiday wish lists and the rest were donated to the Toy Box Connection, a local non-profit organization that collects and distributes toys to local children in need.
Marquette Bank would like to thank the following local organizations for their help in identifying local families in need and distributing the Adopt-a-Family Program gifts: Catholic Charities, Girls of Grace in Evergreen Park, Mother Jones Food Pantry in Chicago, Nativity BVM in Chicago, New Pisgah Day Care in Chicago, St. Richard School in Chicago, Together We Cope in Tinley Park and Worth Township.
If you see a new business in town or wonder what happened to an old favorite, drop me a line at bobbong@hotmail.com.
You can also catch up on Comings & Goings in other parts of the Southland at www.southlandbusinessnews.blogspot.com and www.southlandsavvy.com.
Don Pointer
8:08 am on Wednesday, January 16, 2013
In a good way, ( and I like this), the new Bank looks like the old Cook school sort of doesn't it?
Abe Froman
9:48 am on Wednesday, January 16, 2013
He Sandy Burry, and small man big women, and alll the rest of you tools who rail on the mayor and administration. What do you have to say now that the mayor and board approved to bring in Beverly Bank and Trust? I am sure you'll find some way to down play this construction project which will bring good paying union jobs to the area during construction and 20 to 30 permanent jobs to the area. Look who tried to table this? and Voted against it.. Yep. Phelan and Duhig.... They are are the ones who play politics with the residents of Oak Lawn, and Since Dr Burry is so tied to these people, she probably is against this deal as well. I would love to hear her opinions on this new project...
andy skoundrianos
11:57 am on Wednesday, January 16, 2013
Joe this is a Tif district which means tax proceeds are frozen for taxing bodies. The village sold this asset for 1.8 million dollars and used the money on operating expenses instead of reducing our debt. This is a one time cash influx that will not be around next year!! Guess what?? We now will have a 1.8 million shortfall next year. also this plan had a new senior center component that might not be included because The Mayor doesn't want advocate to pay impact fees,So he comes up with this secret plan to convert the beatty property into some sort of healthclub,senior housing,senior center swimming pool concept.which will provide the village with no tax revenue at all. Stop with the political spin and start talking about real facts...
SmallManBigWoman
3:09 pm on Wednesday, January 16, 2013
Ask Heilmann what's the plan for the $1.8 million hole in the budget next year? Plan? Oh, no plan. Just smoke and mirrors and push the pesky burden to the future with a smile - just like the State of Illinois does.
Ron Williams
10:05 am on Wednesday, January 16, 2013
Simple question, 53rd avenue and Raymond. What is there now?
Ron Williams
10:12 am on Wednesday, January 16, 2013
Never mind, It does say between them, I was confused as they run the same direction Any new community oriented business with a tax base is welcome as far as I .am concerned. Now the Beatty Lumber yard needs to be sold and developed.
2nd
10:38 am on Wednesday, January 16, 2013
Everyone should realize that this project will mean that there will no longer be parking for the Oak Lawn Library on the west side of the Library. The parking around this building will be for bank customers only. The Village expects people who cannot find parking in the east lot of the library to park behind De Ja Brew and cross 95th to get to the Library. The Village is also going to rent space in this building for the OL Senior Center.
Ron Williams
1:31 pm on Wednesday, January 16, 2013
The village should look into using the present parking lot east of the library to build a multi-level parking garage. What is going on with the Masonic Hall property, wasn't the village looking to buy that?
andy skoundrianos
3:40 pm on Wednesday, January 16, 2013
The Masonic hall property is going to become Dave's nice ice rink for the tidy sum of $1,000,000 million dollars taken out of the build america fund, which is supposed to be used for street,alley and sidewalk repairs, not political projects the Mayor personally wants to increase his huge ego already.
2nd
10:47 am on Thursday, January 17, 2013
Dave's Masonic Hall property plans are a slap in the face to the taxpayers. Yes, he wants to 'buy' the property, but then he wants to build the Mason a brand new building - at no cost to them - on the corner of 94th & Minnick - where the old OL Family Services building was. All this just to enlarge the Village Green. He doesn't seem to get or care that the residents who have housed backing the Village Green don't WANT the expansion, because they are sick and tired of Dave's parties on the Green with loud music and drunks. Nor does he understand that one resident in the middle of the block still has a garage that requires ingress and egress. At a meeting about this subject, he kept asking 'what kind of berm or barrier could we build along the back of the houses?' Duh, none Dave - there's still an alley there. Yikes. I'm really hoping he gets voted out before he can do any more damage.
Park Here
10:50 am on Wednesday, January 16, 2013
Parking will be obtained when the existing buildingd (senior center etc) are torn down.
Dave W.
8:14 pm on Wednesday, January 16, 2013
Isn't the existing senior center like two blocks away from the library almost? Why don't the build the bank there, and leave the library parking alone? Try finding a spot on a Saturday morning sometime...round and round and round you go...where you can park...nobody knows.
2nd
10:50 am on Thursday, January 17, 2013
No, parking WILL NOT be obtained when the existing building is torn down. It doesn't add any parking spaces for the Village. The parking will be designated for the Bank and people using the Senior Center ONLY. We will lose ALL the library/village hall parking in that south lot. Deetjan says we can all park behind the bar across the street and cross 95th St to get to the library. This is why MORE OL residents need to attend these meetings and hear what these goofs are up to.
2nd
10:53 am on Thursday, January 17, 2013
Dave W, go on Google maps and look at the lot, then look at the picture of the new bank in this article. The new bank building takes up the entire lot fronting 95th St from 54th Court (or Minnick) east to Raymond. All library/village hall parking is gone, gone, gone.
OakLawnGuy
12:40 pm on Thursday, January 17, 2013
This is true, public parking will be gone, unless the bank allows it after hours. There are going to be lots of library patrons unhappy, as well as neighborhood residents whose streets will be occupied by those parking for the libary when the east lot fills up.
Ron Williams
1:10 pm on Wednesday, January 16, 2013
I AM WONDERING ABOUT ANDY;S COMMENT, IF IT IS TIF PROPERTY, DOES THAT MEAN NO TAXES ARE PAID TO THE VILLAGE EVER?
andy skoundrianos
1:44 pm on Wednesday, January 16, 2013
taxes are frozen until tif expires
Ron Williams
3:26 pm on Wednesday, January 16, 2013
Any idea how long that is, does the tif negate the jobs created etc..?
Capital M
2:57 pm on Wednesday, January 16, 2013
I was just thinking we needed another bank in Oak Lawn... NOT
OakLawnGuy
5:55 pm on Wednesday, January 16, 2013
Folks, say what you want about Messrs Heilmann and Streit - and I won't say you're wrong. But keep in mind that this project was heavily driven by your Village Manager. In fact, "spearheaded" may apply
andy skoundrianos
7:47 pm on Wednesday, January 16, 2013
Olg, The Manager supported the bank project when it included the senior center being in the development, not the secret Beatty Lumber deal Dave has been doing behind the villages back with Advocate ,Bob Streit, and his business partner Dennis Brennan You know what is really happening.
OakLawnGuy
6:34 am on Thursday, January 17, 2013
Yes, Andy, I do. The Manager didn't support the Heilmann/Beatty deal because he had a little somethin somethin of his own on the side. Happened to include a golf outing. (Sure, that was coincidental.) Cmon, this isn't as one-sided as you portray it. It's gamesmanship, and EVERY member of this board has participated in these maneuvers for several years now.
Steve P.
6:54 am on Thursday, January 17, 2013
Andy, I am a bit confused. I stopped reading the Patch blogs because they allowed you to personally and viciously attack a candidate running against Streit. You verbally destroyed a man and I believe questioned his pettions causing Striet to basically run unopposed. To be honest it was a brillant political move which handed Streit the office. Since I have returned to the Patch, you have used the same venomous attacks against Streit, the man you destroyed Sodora for. Please explain why this has happened. Are you just mean and hate everyone
andy skoundrianos
10:19 am on Thursday, January 17, 2013
Excuse me unkown blogger, If you think I was the only person involved in the election 2011 you are sadly mistaken. the blogs on that subject at the time had venom spewing forth from both sides.Once again the candidate didn't follow the rules and it was proven right.I didn't destroy anyone. The question you should be asking is why is Streit best buddies with a Mayor who actually gave money to and supported his opponent and ruled against Mr. Streit on the local election board on this matter until it was overturned. But of course you know that answer already D/B !!
OakLawnGuy
12:42 pm on Thursday, January 17, 2013
We who comment are commenters, not bloggers. Nor are we all DB, Dave/Brennan, Bob/Dave, Donny/Marie or whoever else you suspect we are.
andy skoundrianos
1:01 pm on Thursday, January 17, 2013
OLG you know who all the players are on this site, so do I.Remember I used to be with the guys who put most of the anonymous posts on the patch articles. I have seen them do it in person. WHO ELSE WOULD KNOW PERSONAL FACTS AND LIES ABOUT MY LIFE?? I will continue to call out people who I know are hiding behind anonymous names.
OakLawnGuy
1:39 pm on Thursday, January 17, 2013
At the Southtown/Star sites? So, back then you saw it happen and said nothing and went along, but now it's a bad thing? I know at least a couple names behind pseudonyms in these comment sections, and you're wrong on them.
andy skoundrianos
5:05 pm on Thursday, January 17, 2013
OLG I am talking about posts on the Patch since late 2010. I don't know anything about southtown star stuff.As I have said before and have to say it again everyone who comments on these articles has a favorite candidate,is a family member or friend of a candidate,Is a public employee or the candidate himself or herself period. That's why all the fake names and courage to rip people anonymously. I never pretend I don't have favorites,contrary to some people, I blog under my own name and comment on officials and take the corresponding personal attacks and heat for it. I know who all the pro Dave guys are they all know me so bring it on.Dave and his minions are pussycats compared to the stuff the coalition party used to do to their enemies back in the day, I should know..
OakLawnGuy
5:42 pm on Thursday, January 17, 2013
OK, so, again, you thought the insidious posting was OK? Kinda at odds with yourself here, insofar as "transparency" goes.
On your side
11:35 am on Friday, January 18, 2013
Andy,
Everyone knows about your personal life because your on the website 24/7. That said, welcome to our side. If you know what names they used in the past, spill the beans because we want to know. I supect it is "garbage", "O.L. Taxpayer", and "smallmanbigwoman". There are probably more though. PLease tell us if we are right
Jack Walker
12:56 pm on Friday, January 18, 2013
OK Antom. Like Tom Phelan???lol
Jesse the Brain
1:42 pm on Thursday, January 17, 2013
with over 43 banks and bank branches in oak lawn the last thing that is needed is another bank. This glut of banks has a great effect on sales taxes. The city government must limit the number of banks. It is getting out of hand!!!
andy skoundrianos
6:36 pm on Thursday, January 17, 2013
Olg, last comment on this issue I am always transparent I use my own name and picture I am not hard to find. a lot of insidious posting was done on both sides during that 2011 campaign. It was what it was, no one was innocent during that time. I am just stating I know some of the posts that are against me or pro Dave are from Streit and Brennan cause i know how they post right or wrong. They don't have the guts then or now to use their real names
OakLawnGuy
11:42 am on Friday, January 18, 2013
My last comment: participating in staged comments is not equal to transparency, now or in the past, whether you use your name or not.
Ron Williams
3:01 pm on Thursday, January 17, 2013
This is why I come and go on this site. It does not take long for logical adult discussions to break down and start accusations flying in the face of the issues.
Ron Williams
3:05 pm on Thursday, January 17, 2013
One thing I do respect is when people who are opinionated use their names, why the anonymity?
Jack Walker
1:04 pm on Friday, January 18, 2013
OakLawnGuy. Andy is Andy, lol , unless he's a friend of Andys OR Gilbert O'Sullivan!
Also Andy SOMETIMES DOESN'T "use his picture", so I guess that shoots his, "I am always transparent" line out of the water.