Business Comings & Goings: Sords to Sell Properties, Keep Businesses Open and Lease from New Owners
Riverdale Body Shop opens 9th location in Orland Park • Orland Park Bank & Trust sports new look • Venture One Acquires Orland site • Tinley Park Chamber celebrates season with a party • Charter Fitness holds annual toy drive.
The properties that house 94 West Steakhouse in Orland Park, The Charley Horse in New Lenox and Park Hills Car Wash in Tinley Park are all going on the auction block on Friday, but all three businesses will remain open
Owners Bryan and Maria Sord plan to lease the properties from the new owners, in order to focus on their efforts on running the business at all three locations.
Diliberto Real Estate Services in Orland Park will conduct the auction on Friday. The company valued the 94 West Steakhouse at $6.3 million and the Charley Horse at $5.3 million. The company didn’t list a value on its website for the car wash but indicated it had annual revenues in excess of $1.1 million. Minimum bids for the three properties are $3.5 million for 94 West, $2.7 million for Charley Horse and $3.8 million for the carwash.
"These are unique, well-built assets and the question becomes what’s the value?" said. Frank Diliberto, president of Diliberto Real Estate. "The essential thought of the auction is to accomplish a few goals. One is to define the value through competitive bidding for extraordinary properties, and it also does so in a condensed period of time. Investors look for properties everywhere in the country now."
Diliberto said the Sords' desire is to not focus on the real estate world but focus solely on running the businesses. Diliberto said the benefit of selling all three properties at auction is it seals a deal faster than more traditional real estate purchases, while offering a potentially attractive deal for buyers.
"It's a unique opportunity," Diliberto said. "Great investment properties are a rare thing to see at auction."
Diliberto said that leading up the auction interest has been high.
In June, the Sords closed the Tinley Park Charley Horse location, which is in the same plaza as the car wash. That location has since reopened as Tribes Alehouse Tinley Park.
The family also owns a Charley Horse location in Munster, Ind.
Riverdale Body Shop Opens in Orland
Riverdale Body Shop, which was founded 42 years ago in Riverdale, will have the grand opening of its latest location at 4 p.m. Friday, Dec. 14, at 10714 W. 163rd Place in Orland Park.
The body shop is open from 8 a.m. to 5 p.m. weekdays and 9 a.m. to noon on Saturday.
The Orland shop is the company’s ninth location, though none are in Riverdale. Owner Jerry Seida relocated to nearby Dolton.
In the 1990s, Seida’s son, Larry, joined the business and began expanding. The shop now has other suburban locations are in Alsip, Tinley Park and Chicago Heights. There are two locations in Chicago in Chatham and Roseland. Two shops are in northwest Indiana in Highland and Schererville, which is the corporate headquarters.
For information, visit the Riverdale Body Shop website.
Orland Park Bank & Trust Sports New Look
Venture One Acquires Orland Site
Venture One Real Estate LLC closed a deal recently on an 18,768-square-foot building on almost 5 acres at 11351 W. 183rd St., which is in the Will County portion of Orland Park. The building has been leased to Insituform Technologies USA LLC.
Tinley Chamber to Celebrate Season With Party
The Tinley Park Chamber of Commerce will celebrate the season with a Holiday Party and Awards Night from 6-11 p.m. on Dec. 20 at the VFW Bremen Post 2791, 17147 S. Oak Park Ave., Tinley Park. The cost is $30 per person. Guests must RSVP to the chamber office by Dec. 14. Call 708-532-5700. Guests also are asked to bring a new or gently used winter coat for needy veterans.
Charter Fitness Holds Annual Toy Drive
Orland Park-based Charter Fitness is collecting new, unwrapped toys through Dec. 21 at participating locations. Toys will be donated to Toys for Tots, the Salvation Army and Advocate Hope Children’s Hospital in Oak Lawn.
"Last year, we collected over 5,000 toys for children in need. We'd like to top that this year and help even more kids have the best holiday possible," said Dan Collins, Director of Sales.
Marquette Bank Sends Care Packages
Orland Park-based Marquette Bank assembled and shipped more than 80 care packages to Illinois soldiers serving in Afghanistan and Iraq during the holidays.
Donations were collected through the bank’s Adopt a Soldier campaign.
“Although a lot of troops have been able to go home, many are still serving in dangerous locations, and this may be the first Christmas they will spend without their family and friends,” said Georgeanne Krueger, the bank's assistant vice president. “We want them to know that we appreciate their sacrifice to serve our country.”
Packages included snacks, personal hygiene products, DVDs, games, calling cards and other items not readily available in combat zones. Items were collected at all 23 Marquette Bank locations.
Marquette Bank would like to send out a special thanks to:
- Tinley Park resident Nancy Hall for donating crocheted holiday wreaths
- Local students and staff for making holiday cards, including Orland Park students from Mrs. Urbon, Mrs. Berchos and Mrs. Kneips’ classes at Centennial School, preschoolers and kindergarteners from Sandbox School and Boy Scout Troop 725 in Mokena
- Parkview bible study group for donating homemade cookies, candy, socks and cards
Eva’s Bridal Wins BBB Torch Award
Eva’s Bridal of Oak Lawn—which moved its Tinley Park store to Orland Park last month—was one of eight Chicago-area businesses honored last month with the 2013 Torch Award for Marketplace Ethics by the Better Business Bureau of Chicago and Northern Illinois.
The Torch Award spotlights companies that exemplify ethical business practices.
Other companies honored were Access One, Chicago; Andrea A. Raila & Associates, Chicago; Boeing, Chicago; Imagetec L.P, McHenry; LTD Commodities, Bannockburn; Passages Hospice, Lisle; and Scott Nelson Electric, Inc., Mundelein.
"Companies receiving the Torch Award do business the right way," said Steve J. Bernas, president & CEO of the Better Business Bureau serving Chicago and Northern Illinois.
If you see a new business in town or wonder what happened to an old favorite, drop me a line at email@example.com.
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