- May 21, 2018
Thanks to a recent decision by the Village of Northbrook Trustees in favor of granting a Cook County 6b tax break, Pyramid Packaging is making plans to move forward with the expansion of its current headquarters at 2901 Shermer Road, south of Willow Road.
Pyramid is a distributor of packaging machinery, supplies and services, specializing in supplies for food, medical and industrial customers. The company is currently headquartered in a 6,500 square foot building, which it has occupied for the past 5 years. Company owner Bob Ploen says that he selected the Northbrook location in 2013 because the one acre lot was ideal should the growth of his business require more space.
The two-part expansion will involve more than doubling the size of the current building to 13,500 square feet to accommodate continuing business growth. Ploen estimates the first phase of the project is expected to begin over the summer with the construction of a new 8,092 square foot building 12 feet south of the current building. In phase two, the company plans to move into the new structure, tear down its current building, and add another 5,440 square feet. The addition would bring on 3 – 4 additional hires. Construction is estimated to cost between $1.2 and $1.5 million and is expected to be complete in two years.
The 6b, which provides an incentive for industrial development, reduces the overall property tax bill for industrial and warehouse buildings over the course of 12 years. The 6b requested by Pyramid would apply to the added value that would result from the new construction and will cut the property tax bill by more than half, from $742,000 (without the 6b) to around $334,000 over 12 years. “We feel this investment will have a positive impact on the community and the neighboring businesses,” comments Ploen, who says he has a good relationship with other businesses in the area and feels that the area is changing.
Before Trustees voted on the 6b, School Districts 30 and Glenbrook High School District 225, the Northbrook Park District, Northbrook Library, the Industrial and Commercial Development Commission, (ICDC) and the Economic Development Committee (EDC) all weighed in on the impact of the tax break. In April, Glenbrook High School sent a letter to the Board in support of the 6b, noting that the loss of tax revenue to the schools would not be significant, would keep Pyramid in Northbrook, and that new construction could spur other positive development in the area.
Another benefit of the construction will be improvements to traffic flow. The new design will solve the challenge of bringing traffic off of Shermer Road and onto Holste Ave., according to Ploen. The new docks facing Holste are designed to improve traffic flow and enhance overall vehicle and pedestrian safety from trucks backing up and pulling away from the current dock.