The current Toyota dealership on Skokie Boulevard in Skokie will join down-the-block neighbor Tesla as the latest in auto dealers planning to occupy slick new flagship dealerships as places of business.
The auto dealership strip on Northbrook’s Skokie Boulevard is revving up now that Toyota is rebuilding near new neighbor Tesla.
The Toyota plans include demolishing an existing and obsolete dealership, and building a new facility at 43,274 square feet for the sales and service of new and used Toyota vehicles.“We’re excited,” Leep said. “This is probably going to be a $12 million project.” Of the multi tenant office building next door, Leep told Pioneer Press, “As these leases run out, we’re going to tear that down to also create more display space for the dealership.”
The more than $9.7 million build out calculation is being used to help justify a village rebate of 50 % of new sales taxes generated at the redeveloped Toyota dealership. The 50 % rebate ask and subsequently granted request assisting Toyota will occur in excess of sales tax receipts of $426,400 for 20 years or $9,726,974, whichever comes first.
“There was an opportunity here, great stores like this don’t change hands a lot, these are family run businesses,” Leep said. “Just the demographics of this market are fantastic for Toyotas and we’re just excited to be here.”“Nobody has built more electrified cars in the world than Toyota Motor Company,” Leep said.
“We want to snap our fingers and get this project done as soon as we can so we can get out of that old building.”
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