BANCROFT PURCHASES NEW HEADQUARTERS BUILDING
19 April 2021
The Bancroft companies today purchased the 27,000 square foot property at 3300 Dundee Road in Northbrook, Illinois, establishing the site as the Bancroft Center in Chicago’s northern suburbs. The building will house the Bancroft family of companies, including Bancroft Architects + Engineers, NoviSphere Technologies, G. Bancroft Investments, and the Bancroft Holding Company.
“This is an historic day for the company,” said Paul Jenkins, the founder and CEO of Bancroft Architects + Engineers. “I purchased our first small office in downtown Chicago many years ago, when we were just an engineering start-up. A larger facility purchase has always been part of my strategic plan for the company, especially now that we’ve grown to 100 people across our companies. This state-of-the-art center will be a major upgrade for our clients and—more importantly for our employees. Their quality of life will improve immeasurably when we move into our new building.”
The facility will undergo a million-dollar renovation before the company staffs move in over the summer. The renovation will include upgrades to the building’s IT infrastructure, the addition of a commercial kitchen, improvements to the employee-only, in-house health club, and aesthetic improvements that better reflect the quality of the team housed within.
Building First Nations is a Native-American owned small business that is participating in the federal 8a program. Its founder and CEO, Phil Lasarsky is excited about the new center. “Mine is a relatively young company that is growing quickly. We have a formal mentor-protégé relationship with Bancroft and being able to share a facility with them is the best of all worlds. The Bancroft Center was chosen in part because it includes enough space for companies like mine to grow to maturity. The attention to detail that has gone into the facility selection, and then the renovations for staff comfort, efficiency, and well-being are extraordinary.”
In addition to staff workstations, the new, energy-efficient facility includes executive suites, boardrooms for each of the companies, a loading dock and warehouse, as well as a conference center for 120 people. “The flexibility to continue to grow and develop as complementary companies, serving clients in adjacent industries was really one of our key considerations,” said Mary Bradbury, the Executive Vice President of the Bancroft Holding Company. “While many companies are timidly pessimistic about growth, we are absolutely bullish on our future. Small business remains the country’s economic engine and the Bancroft Center will enable us to keep doing our part to foster small business opportunities, especially for disadvantaged businesses.”
The Bancroft Center’s official opening will take place later this year with the companies hosting a grand-opening event for staff and the local community. G. Bancroft Investment’s President, Claudio Cistaro, views this as the first of many real estate investments for the companies. “I have been in commercial real estate for decades and think the Bancroft Center is the best fit I’ve ever seen. It’s the right facility at the right time for the right company. This represents a major investment in the future—a future that I am sure will include many more real estate acquisitions.”