AMY J. VAN HORN | ROCKFORD REGISTER STAR The former Essex Wire building on North Main Street in Rockford.   Published: May 1, 2007 Business: Manufacturing Deal in works to buy Essex Wire plant ABC Supply’s owner hopes to close on the North Main facility this summer. By Alex Gary ROCKFORD REGISTER STAR Click here for more information about Alex Gary ROCKFORD — Southern Wisconsin billionaire Ken Hendricks, owner of the Beloit-based ABC Supply, has a contract to buy the former Essex Wire plant on the 2800 block of North Main Street. Ann Shea, marketing manager of Hendricks Development Group, verified the company is doing “due diligence” on the property and hopes to close on the 308,990-square-foot building on 15 acres this summer. “This is a Harry Caray ‘Holy Cow’ moment,” said Alberto Altamore, president of the North End Commons Business Association, an advocate group working to bring business to the northwest side of Rockford. “Hendricks is a genius when it comes to this stuff.”

Henricks made his fortune selling building supplies nationwide through ABC Supply — he was No. 107 on the 2006 Forbes 400 Richest Americans list with $2.6 billion. But he’s made a lot of friends and more money redeveloping older vacant properties such as the former Beloit Mall and Beloit Corp.

The 450,000-square-foot mall is now the Eclipse Center and holds a banquet facility and convention center, Cardinal Stritch University, Energy Services Inc., department store Elder-Beerman and several public services.

The 800,000-square-foot former Beloit Corp. is called Ironworks and was converted for industrial and office use with massive murals on the building adding to Beloit’s skyline.

Shea would not say what Hendricks plans for the Essex Wire property.

“There are several plans being discussed, but nothing has been finalized,” she said.

Price not disclosed
Shea also wouldn’t disclose the price. According to the Winnebago County supervisor of assessment office, the plant had a fair market value of just more than $1 million.

Rockford Ald. John Beck, who represents the area, was aware Hendricks was interested in the property but also did not know if he had concrete plans.

“You don’t want to be overly optimistic,” Beck said. “If they do purchase it I’m excited. Ken Hendricks has a great reputation of restoring old manufacturing buildings.”

The massive Essex plant is more than two-thirds the size of Machesney Park Mall. It was built by the U.S. government in 1939 to make shell casings for World War II. About 160 people worked at the factory, making wires for car motors, generators and transmissions, when it was acquired in 1999 by Superior Telecom, an East Coast wire maker. By 2002, the work force was down to 60 when the plant was closed because of the recession. It has been used for storage since.

If nothing derails the deal and Hendricks is as successful with the Essex building as the Beloit Mall and Beloit Corp., it could be the centerpiece resurrection of a corridor that has made some positive strides this decade.

A former nightclub that was the site of murder in 1997 and an empty Kmart shopping center have been demolished and replaced by an AutoZone and a middle-income condominium development, and an old Eagle County Food Market has been remodeled for a new grocery that is supposed to open this spring or summer.

“If Hendricks comes in, that’ll be a huge boost to that area,” Altamore said. “That building has huge potential. Obviously it’s going to take some money to renovate it, but he’s shown he’ll spend money.”

ABC operates in 45 states
Hendricks’ ABC Supply is a $2.6 billion supplier of roofing, siding, windows, doors and related builder’s supplies. The company has more than 5,000 employees and operates nearly 300 outlets in 45 states. Hendricks’ development company has several other Winnebago County properties, including the GKN Rockford plant — formerly Rockford Powertrain — on Windsor Road in Loves Park, the Rockton Commons shopping center, the former Rogers Ready Mix & Materials property and Besly Products Corp. plant in South Beloit, and a nearly 70,000-square-foot storage building at 1950 Harrison Ave. in Rockford.

Assistant Business Editor Alex Gary may be reached at agary@rrstar.com or at 815-987-1339