An Elk Grove Village manufacturer that assembles seasonal food gift baskets featuring brands such as Coca-Cola, Budweiser and Campbell's is expanding its operations a half-mile away.
Marketplace Brands, which manufactures and distributes gift baskets at 951 Fargo Lane, is outgrowing its current site and plans to move part of its operations to a vacant building at 1370 Lively Boulevard, officials said.
The company plans to spend $650,000 to rehab the 43-year-old building. The work would include a new roof, addition of solar panels, updates to the interior office space, pavement repairs, and installation of new windows, awnings and signage, according to documents filed with the village.
The last occupant was Delta Precision Circuits, which began winding down its operations in February 2017 and fully vacated the 33,000-square-foot building last month, officials said.
Marketplace has 105 employees, but plans to hire 50 more as part of its expansion plans during the next three years.
The village board Tuesday endorsed the company's application for a Cook County Class 6B property tax break, which would allow the Lively Boulevard building to be assessed at lower levels during the next dozen years. Pending final approval by the county, the property would be assessed at 10% of fair market value for the first 10 years, 15% in the 11th year and 20% in the 12th year. Industrial property is normally assessed at 25%.