October 16, 2017
Shared Harvest, the Elgin Cooperative, announces that they no longer consider the Ziegler Ace Building on Spring Street in downtown Elgin as a future location for their planned grocery store.
During its due diligence period, Shared Harvest recently hired a structural engineer, MC Stern Structural Engineering, Ltd. (MCSSE) to assess the building for its intended use. The structural engineer observed that the building continues to settle and that the cement slab floor appears to have probable issues. The engineer observed in several locations that there is space between the slab floor and the soil below which may indicate further settling of the floor. As stated in the report, “In order for doors and shelving to function properly and to protect against additional slab movement, MCSSE would recommend extensive slab removal and replacement.”
These leasehold improvements would be extensive and cost-prohibitive. Therefore, Shared Harvest and the Ziegler family mutually agreed to cancel the contingent lease. Further options for a store location will be discussed at the Shareholders’ annual meeting on Oct 17.
The Elgin Food Cooperative is an Illinois corporation organized under cooperative law in 2014 and doing business as (DBA) Shared Harvest. Currently the organization has more than 970 individual family shareholders and a board of directors.
