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Granite Company Staying in East Garfield Park

CHICAGO-Geokat Granite will build showroom, shop and offices on a 9,617-sf city-owned site at the northeast corner of Lexington and Kilbourn streets. The vacant lot fetches $83,000.

By Mark Ruda | Updated on April 03, 2006

CHICAGO-A granite fabricating company will have its own showroom, shop and offices at 4452 W. Lexington St., a block from its current leased location. The city is selling a 9,617-sf site at the northeast corner of Lexington and Kilbourn streets for its full appraised value of $83,000.

The $645,000 project will take 18 months to complete, although the first floor is expected to be ready for occupancy by Geokat Granite in six months. Construction financing is evenly split between equity from the company and a loan from Oak Brook Bank. In addition to that investment, however, the company has bought $1 million in new equipment.

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