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Chicago Rivet & Machine Co. Message Board

  • filefish1 filefish1 Jan 30, 2011 12:11 PM Flag

    Jefferson, Ia building clean up

    Could be a nice windfall if building can be sold.
    See Dec article in Midwest Partnership bulletin:

    GCDC Progresses on Local Building
    Group works to make former factory an attractive location

    Thanks to extensive efforts by the Greene County Development Corporation, the former Chicago Rivet building in Jefferson may once again house a major employer. GCDC has completed an Environmental Phase I study on the facility, with more work to be completed to renovate the building into an attractive space for manufacturers looking to locate there. GCDC plans to utilize grants and low-interest loans to minimize their cost. Leaders of the organization, though, say the investment will be well worth it in the long run, considering the number of new jobs that would be created in the community.

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    • Am I missing something here? It looks like the purchase price is $45,000 (including improvements) for this brownfield site. And, if you look at the CVR 10K I do not see where it is even listed as a property that they own.

      • 1 Reply to hurtrhino
      • From the last 10k report filed 3/23/10:
        ITEM 2 — Properties
        The Company’s headquarters is located in Naperville, Illinois. It conducts its manufacturing and warehousing operations at three additional facilities. All of these facilities are described below. Each facility is owned by the Company and considered suitable and adequate for its present use. The Company currently maintains a small sales and engineering office in Norwell, Massachusetts in a leased facility. The Company also owns a facility in Jefferson, Iowa, that was formerly used in the fastener segment.

        Where do you see a "$45k purchase price for this brownfield site"?

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