Disaster recovery company planning move to Wheeling
A suburban disaster recovery company is planning a move to Wheeling.
Powerhouse Restoration intends to relocate to 2039 Foster Ave. from 185 King St. in Elk Grove Village. Before the moving trucks arrive, however, the company wants a property tax break for the new headquarters.
Powerhouse cleans up homes and businesses after tornadoes and damaging storms, floods, fires and other disasters. It handles roof repairs, smoke damage, water damage, mold removal and more.
“We are excited to welcome Powerhouse Restoration and more than 30 high-paying jobs to Wheeling,” Village Manager Jon Sfondilis said. “Their decision to relocate from Elk Grove Village reinforces Wheeling’s position as the premier business destination in Chicago’s North suburbs.”
The roughly 15,000-square-foot Foster Avenue building is in a quiet, industrial area. The building formerly housed a processing plant for Georgia-based NEMA Seafood and has been vacant since June 2024, Sfondilis said.
Powerhouse expects to buy the property in August or September and move in promptly, documents indicate.
The company anticipates spending more than $250,000 to update the facility for its needs.
Powerhouse has applied for a property tax discount that would last 12 years. While such requests are granted — or rejected — by the Cook County Board, consent from the home municipality is required.
The regular assessment rate for commercial property in Cook County is 25% of the fair market value. The proposed break would reduce the assessment rate to 10% for 10 years, 15% for the 11th year and 20% for the 12th year.
The tax break could save the company more than $58,000 in property taxes the first year, Sfondilis said.
The property would generate more than $728,000 in property taxes over the 12-year period if the company gets the break and moves in, Sfondilis said. On the other hand, that total would be about $550,000 if it remains vacant, he said.
The Wheeling village board will consider the requested tax break when it meets at 6:30 p.m. Monday at the village hall, 2 Community Blvd. The meeting is open to the public and will be livestreamed on the village’s YouTube channel.