While it’s still unclear whether Edward Don and Company, North Riverside’s highest sales-tax producing business, will leave the village when its lease expires on Dec. 31, 2012, the company is seriously considering property in Woodridge for a new home base.
Last week, Kathleen Rush, the village administrator for Woodridge, said that Edward Don has signed a lease and has notified employees of a potential move.
“I understand a lease has been signed, and they’ve announced to their employees that they’re looking at us,” said Rush.
The deal is contingent on the village of Woodridge signing off on a planned development proposal submitted by McShane Development Company. The plan calls for developing a large parcel of land off Woodward Road, near the intersection of Interstate 55 and Interstate 355.
Last month, the Landmark reported that Edward Don was looking to come to a decision some time in October on a plan to either renew its North Riverside lease for another five years or find a new suburban home.
Edward Don, a foodservice supply and equipment giant, has called the 20-acre property at 2500 Harlem Ave. home for four decades. The company has been in business since 1921.
Chicago Real Estate Daily reported on Sept. 21 that Edward Don was contemplating a 20-year lease for a 362,000-square foot facility to be built on the northeast corner of the I355/I55 intersection. The facility would include 55,000 square feet of office space, the publication said. At the time, Chicago Real Estate Daily reported that a lease had not yet been signed.
But on Friday, Rush said that since that news report, Edward Don had signed a lease contingent on village approvals.
The Woodridge Plan Commission met Monday to review McShane’s plan for its Union Pointe Business Park, which would entail amending the village’s comprehensive plan.
Meanwhile, the village of Woodridge is continuing to negotiate the details of an economic incentive package to seal the deal, said Rush. The incentives package is scheduled for consideration and possible approval by the Woodridge Village Board on Oct. 13, said Rush.
Calls by the Landmark to Edward Don officials were not returned.