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Industrial conglomerate relocates offices to Downers Grove

Published by Jamie on Thursday, November 12 2009 at 9:41 PM

Announced Thursday, Park Avenue’s Dover Corp. will be relocated is headquarters to office space in Downers Grove, IL. The move is expected to open up over 100 jobs for the area.

Dover Corp, who makes products ranging from garbage trucks to oil drilling equipments, currently has a dozen employees occupying the new office space. Scheduled to be completed by the summer of 2010, Dover plans on relocating an additional 90 employees from outside of the state.

The company recently signed a 15-year agreement to lease 68,000 square feet of office space in the western Chicago suburb. After being hit hard by the recession, the 60-year old company finds this move as the best way to mitigate the 24% drop in revenue reported in the third quarter. By consolidating recently independent departments, Dover hopes this move will reduce administrative costs, according to Crain’s.

Contact an officebroker.com representative for free information on office space in and around Chicago.

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