REPORT: Chicago’s Lee Lumber closing
Lee Lumber, the largest lumberyard in Chicago, will shut its doors and close for good on Oct. 23.
According to a report by Block Club Chicago, owners Rick and Randy Baumgarten have decided to retire. The business had been for sale but a third attempt to sell the business recently fell through.
And owner Rick’s daughters – a trauma surgeon and a business teacher at Tulane University – don’t have any interest in taking over the company.
Lee Lumber was founded in 1952 by Lee Baumgarten – Rick and Randy’s father. The pro dealer has a yard in the Canaryville neighborhood of Chicago along with a design showplace and 2 showrooms.
At its peak, Lee Lumber had 150 employees but has operated with about half that number since the Great Recession. Employees were told of the closing several months ago.
Because the dealer is a union shop with $5 million in pension liability, it made selling the business difficult, Rick told Block Club Chicago.
According to a report by Block Club Chicago, owners Rick and Randy Baumgarten have decided to retire. The business had been for sale but a third attempt to sell the business recently fell through.
And owner Rick’s daughters – a trauma surgeon and a business teacher at Tulane University – don’t have any interest in taking over the company.
Lee Lumber was founded in 1952 by Lee Baumgarten – Rick and Randy’s father. The pro dealer has a yard in the Canaryville neighborhood of Chicago along with a design showplace and 2 showrooms.At its peak, Lee Lumber had 150 employees but has operated with about half that number since the Great Recession. Employees were told of the closing several months ago.
Because the dealer is a union shop with $5 million in pension liability, it made selling the business difficult, Rick told Block Club Chicago.