ROCKTON, IL-Chemtool Inc., headquartered in Crystal Lake, IL, is consolidating a couple of its locations and moving its headquarters to a 178-acre site at 1165 Prairie Rd., here. The maker of industrial lubricants has acquired the property from Mallory Properties, based in Milwaukee.

The property currently has a 330,000-sf industrial building on the site, says Sue Mroz, the economic development director for Winnebago County. Chemtool plans to renovate the 330,000-sf building and construct a 75,000-sf office addition which will house the company’s global headquarters, says Mroz, who helped facilitate the deal. “Some of (the facility) had problems. There was a hole in the roof (and) there were some electrical issues,” she says.

The estimated cost to acquire the land, renovate the building and construct the addition is reportedly $40 million. Chemtool is expected to move into the facility this year, Mroz says. Reload had been leasing the 330,000-sf building and will continue to occupy some of the building until August when a new Reload facility is completed in Rockton, Mroz says. Beloit Corp. had owned and occupied the property until it closed its plant in the late 1990′s. Beloit’s parent company went bankrupt and Mallory Properties acquired the site, which is part of a TIF district, she says.

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