Vacant Rolling Meadows site finds buyer

An acquisitions company will receive a tax incentive for buying property in Rolling Meadows that has been vacant since January 2009.

VK Acquisitions LLC will purchase the space at 3100 Tollview Drive and lease it to NSORO, a company that does light assembly, and loads items for field installation of cellular towers and related apparatus. NSORO plans to hire about 25 new full-time employees.

The 59,000-square-foot space formerly housed Coleman Flooring Co. It has about 8,000 square feet of office space and 31,720 square feet of building space, documents state.

The Cook County 6b tax incentive gives the owner an assessment of 10 percent of market value for the first 10 years; 15 percent of market value at the 11th year and 20 percent of market value in the 12th year. Comparatively, the normal rate is 25 percent of market retail value.

VK Acquisitions LLC told Rolling Meadows having the 6b tax incentive is imperative if they are to compete with DuPage and other surrounding counties that have lower corporate real estate taxes, sales taxes, cost to employ and facility costs in general.

The resolution was approved unanimously, with Alderman Jim Larsen absent.