Gordon's Ace Hardware expands in Chicago

Gordon's Ace Hardware has acquired two new Ace locations in Chicago's Norwood Park and Hardwood Heights neighborhoods.

Additionally, Gordon's will close its existing store located at 3011 N. Clark Street in Chicago’s Lakeview neighborhood.

The new stores were previously under the leadership of Jim Tierney, owner of Harlem Foster Hardware at 7230 W. Foster Avenue and Norwood Park Ace Hardware at 5907 N. Northwest Highway. The change of ownership decision was made as part of Tierney’s strategic retirement succession plan, and also a key part of the Melnicks’ growth plan.

“With retirement comes bittersweet emotions of closing a chapter, but also looking ahead,” said Jim Tierney, retiring owner of Harlem Foster Hardware and Norwood Park Ace Hardware. “I’m incredibly pleased that my stores will transition to the extremely capable hands of Les and Jeremy Melnick. The team at Gordon’s Ace Hardware runs one of the finest business operations in Chicago – it’s truly a win-win for everyone involved."

“We are absolutely delighted to grow the Gordon’s Ace Hardware family with the acquisiton of Jim Tierney’s two stores, and we’re excited to get to know these two Chicago neighborhoods,” said Jeremy Melnick, co-partner of Gordon's with his father Les.“Because Ace stores are independently owned, it’s critically important for a store owner to identify a succession plan so that the retiring owner doesn’t have to liquidate his life’s work for pennies on the dollar. Jim was extremely proactive in identifying the best long-term plan for his stores and for his amazing team that works in the stores. We are thrilled and humbled that Jim has placed his trust in Gordon’s Ace to keep his stores thriving for years to come."



The decision to close the other location was due to store size limitations, said the Melnicks.



“Making the decision to close a store is never easy, and it’s never made in haste. Our focus needs to be on investing in ‘right size’ stores, and unfortunately at just 4,000 square feet, our Clark Street store simply doesn’t offer enough space to effectively serve our neighbors in the community,” Melnick said. "The store will begin a liquidation sale at the end of November and will be closed by the end of January 2017. No jobs will be lost as a result of this store closing; store associates will be offered opportunities at alternate locations under the Gordon’s umbrella of stores."

Gordon's now operates nine retail locations and employs more than 140 associates.