The Biz Week That Was: A shopping center sale, auto wrecker closing, and new coffee roaster among this week's highlights
Hanover Park selling shopping center for $7.25 million
Hanover Park is expected to close on a deal Jan. 12 to sell the once blighted Hanover Square Shopping Center along Barrington Road to Wayne-based SIAINC LLC for $7.25 million. The sale will occur about 12 years after the village used $2.8 million in tax increment financing funds to acquire the more than 9-acre property in December 2011. Hanover Square consists of two buildings, with the smaller in the northeast corner, totaling 113,565 square feet south of Walnut Avenue and north of Maple Avenue.
Tonality Brewing now open in Mundelein
After years of planning and renovation work, Tonality Brewing Company in Mundelein finally has opened its taproom at 169 N. Seymour Ave., to customers. Its owners are Zach Gelfand, Don Phillips and Tony Bena, who came together through a love of home brewing. The trio incorporated the business in September 2019. The site near Lake Street was chosen because the building seamlessly could accommodate their brewing and dining operations. Renovations totaled around $3.4 million.
Air Force reservist making name in aviation furniture
Kurt Eldrup's fascination with airplanes probably started with his father's service as a fighter pilot in the U.S. Air Force during the Vietnam War. That fascination followed him as he joined the Air National Guard, earned a pilot's license, and now makes furniture from airplane parts. He eventually opened Aviation Flying Furniture and, for the past 25 years, Eldrup has taken airplane parts such as wings, nose cones and jet engine parts and repurposed them into functional furniture.
Victory Auto Wreckers closing after 78 years
Bensenville-based Victory Auto Wreckers Inc., which has been around for 78 years, announced its closing this week. The company is etched in the minds of Chicago-area residents for a long-running classic commercial with a hippy-dude who has his beater car door fall off as he opens it. "I didn't think we had that much of an impact on people's lives," said Kyle Weisner, a third-generation family member and owner whose phone has been ringing nonstop since he announced the closing on Dean Richards' WGN Radio 720 show Sunday morning.
U3 Coffee seeks to 'unite the world through coffee'
Kristi and Craig Ross this month launched U3 Coffee, whose mission is "to unite the world through coffee." The couple left their respective jobs - Kristi Ross in financial services and Craig Ross as an executive and consultant in the health care industry - to start the business which aims to create a coffee "ecosystem" connecting consumers with the farmers, co-ops, roasters and entrepreneurs. U3 Coffee Roasters will open in April 2024 in the 1,800-square-foot annex to the former Doc Ryan's Bar & Grill at 7430 Madison St. in Forest Park.