Willkomm Development LLP


Business Willkomm Development LLP
Lending Partner Johnson Bank
Owner James Willkomm and Michael Willkomm 
Location Village of Mount Pleasant
Project Land Acquisition and Commercial Development
Jobs Creating 32
Financing Source Racine County Community Development Block Grant Revolving Loan Fund (CDBG RLF); Racine County RCEDC Revolving Loan Fund (RCEDC RLF); Midwest Revolving Loan Fund (Midwest RLF) 

Michael and James Willkomm are the third generation of the Willkomm family to work in petroleum distribution and second generation to own and operate the Willkomm businesses serving the Southeast Wisconsin market since 1946. The Willkomms own several businesses including various Mobil gas stations, car wash, pet wash, restaurants in Oak Creek, Racine, Kenosha as well as a Petro truck stop on Hwy 20 & I-94.  The development of 5.6 acres located on the southeast corner of Hwy 31 and Spring Street in the Village of Mount Pleasant is, however, a long time dream of the Willkomm brothers. In the early ‘80s, the Willkomms attempted to purchase southwest corner of the intersection but for different reasons that did not work out. In 2014, thinking outside of the box, they wondered if they could purchase the homes on the southeast corner to develop there.  The brothers were able to buy 13 homes and rezoned them from residential to commercial.The Willkomm’s are very excited to continue their growth here in Racine County where they currently employ 200 people and expect to add  32 jobs in the next two years. The brothers’ development plans include a state-of-the-art Mobil gas station, a convenience store, a Dunkin’ Donuts, the Dish restaurant, and a car wash that is said to be bigger and faster than any other traditional car wash. The car wash will be two stories and the first flat conveyor car wash in our area using the newest technology in the industry.

Business Lending Partners (BLP) partnered with Johnson Bank in financing the Willkomm development project through three loans coming from three of Racine County’s revolving loan funds (RCEDC RLF, CDBG RLF, and Midwest RLF). The project is an impactful local investment and is anticipated to create 32 full-time jobs over the next two years. James stated that “working with RCEDC was great and the team guided us through the process and stood behind us.” The Willkomm’s further said “We are grateful that there are programs and services available with a focus on developing the community that we consider our family, helping move it forward. Without RCEDC and their purpose to move communities forward, we might not have been able to do this project and our part in helping our community grow.”    

The Willkomm’s Development is only one of many companies that RCEDC/BLP has been able to assist using low-interest revolving loan funds  You can also read about other success stories here.

 

 

 

SBA 504

October 2017

20-Year Fixed Rate:

4.635%

10-Year Fixed Rate:

4.152%

Historical Rate Graph