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KRISTINA NEMETZ, Communications Manager
Release Date | Tuesday, January 18, 2022
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New Owner of Former Caterpillar Property Officially Calls Montgomery Home
Montgomery, IL – In March 2020, the Reich Brothers of White Plains, New York, purchased the four-million-square foot former Caterpillar Plant. After the almost 70-million-dollar deal closed, they began to petition the Village for annexation to bring the property into the Montgomery limits. On January 10, 2022, the Village Board unanimously voted to approve the annexation and the creation of a TIF (tax increment financing) district to support the ongoing development and repairs of the more than 60-year-old building and facilities renamed The Grid at Route 31.
“Not only does annexation allow Montgomery to grow physically in size, but The Grid demonstrates our Village Board’s commitment to being regional leaders when it comes to economic and business development,” says Community Development Director Sonya Abt. “When older manufacturing complexes go up for sale like what happened with the property, it leaves a huge vacancy on so many levels; we are grateful for investors such as Reich Brothers who give new life to older properties with manufacturing infrastructure such as this.”
New life is just what the Reich Brothers breathed into the 360-acre parcel. Close to three million square feet of space was leased at the property, putting Montgomery on the map as having the most industrial square footage secured under lease in the Chicago area during quarter three of 2021. The two largest tenants at the property are Tangent Technologies (1.1 million sq. ft.) and the U.S. Medical Glove Company (980,000 sq. ft.). Additionally, TSA Processing Steel Company and two logistics companies join the former owner, Caterpillar, who leased back approximately 200,000 square feet for an engineering team of roughly 500 employees that remains at the site.
This development not only brings more than 2,000 jobs to Montgomery, but it brings exciting new manufacturing to the Village and adds to the growing list of items manufactured and made in Montgomery. For example, the U.S. Medical Glove Company, which began production last month, is the largest state-side nitrile glove machine manufacturer and glove production facility. The factory will house enough American-made nitrile glove machines to supply 8.1 billion gloves annually, including specialty chemotherapy-rated glove lines. The company has already secured a significant deal with the U.S. Department of Defense.
The annexation process and the creation of the TIF district took close to two years to accomplish, but The Grid and its new tenants are getting a lot of media coverage lately. National and local business articles tout the strong industrial moves and investment in the Village of Montgomery by the Reich Brothers. “We thank you and look forward to a long, continued occupancy in your town,” said Bernard Citron, Reich Brother’s attorney, at the most recent Village Board meeting. Additionally, he thanked Abt for “making it happen.”
Not entirely marking one full year as the Village’s Community Development Director, Sonya Abt has already made considerable strides for the Village, advocating simultaneously for small business and large manufacturing since her arrival last March. “In 2022, we want to focus on Montgomery Made,” says Abt. “Montgomery has large industrial complexes for our national manufacturers like the U.S. Medical Glove Company and Carl Buddig. We have rail access that manufacturers can take advantage of and access to major highways for large logistic firms such as Old Dominion and our two new companies located at The Grid at Route 31. We have community support for small businesses like Atrevete Confections who makes the best French macaron in the state. We have space for innovators, like Ballydoyle, LLC., who renovated and opened the Gray’s Mill Estate this past summer in the downtown area and are finalizing logistics for expansion of the property along the Fox River to include H.H. Shufeldt, the areas first whiskey distillery.”
Additional information about the Village of Montgomery Community and Economic Development and the process by which new businesses can join the Made in Montgomery Movement is available on the Village’s website at montomgeryil.org. Questions can be directed to Sonya Abt, Community Development Director, at sabt@montgomeryil.org or by phone at 331-212-9021.
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ABOUT THE VILLAGE OF MONTGOMERY, IL
Located in northern Illinois, 40 miles southwest of Chicago and due south of Aurora, the Village of Montgomery is home to more than 20,000 residents. Nestled along the banks of the Fox River in Kane and Kendall counties, Montgomery encompasses the charm of a small town with the access and regional connectivity of a large city. Founded in 1835, rich with history and possibility, the rural suburb of Montgomery, Illinois, is a fantastic community to raise a family, chase business dreams, and revel in the beauty of native Illinois. For more information, please visit MontgomeryIL.org.
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