R.P. Lumber has purchased a former Stock Building Supply facility in DeKalb, Ill., that it plans by April 1 to reopen as R.P.'s 46th location, company president Robert L. Plummer said today.
R.P. paid $1.14 million for the property, according to a Jan. 7 article in DeKalb's local newspaper.
"DeKalb and Sycamore [a nearby community] is a large population area that together has 60,000 to 70,000 people," Plummer told ProSales. "There are lots of surrounding communities and a major university," he added, referring to Northern Illinois University. "And the Chicago suburbs are moving west toward DeKalb. We were told this was a good yard for Stock" as well as for its previous owner, Wolohan Lumber.
Stock leased the property from Wolohan at least from February 1999. That lease had been scheduled to run until 2012, but a U.S. bankruptcy judge canceled it last summer while Stock was reorganizing under Chapter 11 of the federal bankruptcy laws. The lease then reverted back to Wolohan's owners, which sold the facility to R.P.
Based in Edwardsville, Ill., R.P. Lumber ranked 31st on the latest ProSales 100, with sales of $167 million in 2008, 70% of them to pros. It had 44 facilities in 2008 and opened a 45th, in Lincoln, Ill., last October.