Chicago Tribune – German manufacturer Faber-Castell Cosmetics announced plans Thursday to open its first U.S. plant in Elgin this fall, producing private label-cosmetic pencils for the North American market, and creating 50 jobs in the Chicago suburb.
Michael Weaver of Chicago Real Estate Resources brokered the sale of 2555 Decade Ct in Elgin, IL This 71,000 SF tilt-up constructed warehouse which has a land site of 4.43 acres was sold to Midwest Industrial Funds. Mike Plumb of Lee & Associated was cooperating broker.
Illinois beat out Wisconsin, in part, because the dairy state was too far from Chicago, where the company plans to entertain visiting cosmetics executives.
Chicago Business – The Elgin facility is in an 18-year-old warehouse acquired out of foreclosure. Faber-Castell will invest $9 million and lease 45,000 square feet, with an option to expand to 60,000. Zech put the plant’s annual revenue goal at $50 million, half of the nearly $100 million the unit produces now. It sells private label products to major cosmetics retailers, including Sephora, she said.
Daily Herald – The $9 million project will create 50 full-time jobs over the next three years, said Christina Zech, managing director of Faber-Castell Cosmetics. She said the company plans to move in at the end of the year with 10 to 15 workers. “We are planning to start shipping in the first quarter 2019,” she said Thursday. She said the company will not reveal the Elgin address until the opening.
BizJournals – State officials were ecstatic about the German company’s plans to add 50 jobs to the Elgin economy.
“Faber-Castell has a remarkable legacy in Germany, and I am proud that they have chosen Illinois to be the next phase in their journey. We look forward to working with them and helping them thrive in Elgin,” said Illinois Gov. Bruce Rauner, in a statement.
Rauner visited with the company in Stein, Germany in late spring.
About The Deal: Cash Transaction, Closed 09/05/2018 Sale Price: $4,300,000
About The Property: Modern turnkey manufacturing facility -Fully air-conditioned -T-5 high efficiency lighting -Airlines throughout production area -Close proximity to I-90/Randall Road 4-way interchange -Crane rails for side loading
About The Broker: Michael Weaver has registered over 22 years of experience in the real estate industry and joined Chicago Real Estate Resources with a wealth of knowledge pertaining to commercial sales.
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