Details on Stern Pinball's New 50% Larger Factory
I was recently able to find a number of interesting pieces of information about the new, larger location that Stern Pinball is planning to move to in papers filed with the town of Elk Grove Village, Illinois. Stern's new facility will be a couple of blocks away from its existing location and expand to 163,875-square-feet. The company's current facility is 110,000-square-feet, so the new location is just under 50% larger.
According to town records, Stern is spending more than $5 million on the relocation project. More specifically, the article below says that "Stern's budget -- including building upgrades, prep work, move-in costs, and equipment and furniture -- is $6.5 million." The total lease will cost $26 million. The 10-year lease with the building's owner Prologis is set to begin in October 2023. The spot is currently occupied by a transportation and logistics firm called Kuehne + Nagel, which is moving to a new location itself.
Stern was considering leaving Elk Grove Village, so the municipality awarded it up to $2 million in "tax increment financing funds" over the next six years to entice it to stay in town. This payment consists of $1.25 million when a certificate of occupancy is issued, $400,000 after five years, and $100,000 after year six. Stern Pinball originally moved to Elk Grove from nearby Melrose Park back in 2015.
Elk Grove Village Addendum Regular Village Board Meeting
8 million quarters to continue playing: Elk Grove gives Stern Pinball incentive to stay in town, expand
Below are several renderings of what Stern's new facilities will look like, again according to documents filed with the town.