Hanover Park business to expand in Rolling Meadows
A school health supplies company will spend $9.9 million to demolish an old building and build a new one as part of the continuing redevelopment of a Rolling Meadows corporate campus.
School Health Corp., which sells sports medicine equipment, early childhood products and special needs aids to 133,700 schools from preschool to college, is relocating from 865 Muirfield Drive in Hanover Park to 5600 Apollo Drive in Rolling Meadows.
It is purchasing the 10-acre site, near Golf Road and the Jane Addams Tollway, with plans to tear down a 71,000-square-foot building and construct a 131,560-square-foot warehouse and office building. About 50,000 square feet could be occupied by a second warehousing tenant. Charles Industries, a manufacturing and technology company that has occupied the site since 1990, is currently in negotiations for a leased property in Schaumburg.
School Health also is in line for a Cook County 6b tax incentive, which would allow the property to be assessed at 10 percent of market value for 10 years, 15 percent in the 11th year and 20 percent in the 12th year. Properties are normally assessed at 25 percent.
The Rolling Meadows City Council endorsed the company's application with the county this week on a 6-1 vote, with Alderman Brad Judd casting the lone "no" vote.
In exchange, School Health is giving the city 20 feet of land on the southern property line to accommodate extension of Squibb Drive between Ring Road on the west and Apollo Drive on the east.
Last month, Arthur J. Gallagher & Co. moved into its newly renovated 11-story building next door at 2850 Golf Road.
"There's been a lot of changes going on on Golf Road and all for the better," said Linda Ballantine, executive director of the Rolling Meadows Chamber of Commerce. "It has really made that area quite different from what it was, and I think it will continue to evolve in a very positive manner with even more significant businesses coming into that area."
School Health is expected to bring 130 employees to Rolling Meadows.