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Business in Northbrook
by Catherine L. Tully

Northbrook is a great place to be in business, and the variety of stores and offices is a strong testament to that fact. Home to Fortune 500 companies such as Allstate, Crate & Barrel and Underwriters Laboratories, the village has a strong business community with an affluent population driving its market. Northbrook Court is a lure for upscale retail stores and Sky Harbor Industrial Park has over 700 manufacturing, service-related and light industrial businesses within its sector.

The fact that Northbrook has such as strong business environment is no accident. With a strong Chamber of Commerce and careful planning by the village itself, the area will remain attractive to both businesses and residents into the future. Northbrook has carefully thought through its land use and has a comprehensive plan that addresses development issues. All one has to do is talk with local businesses to see that the planning thus far — in addition to the convenience of the location — has helped them feel at home here.

The Northbrook Chamber of Commerce has been around for over 50 years and has more than 675 members. Making new business contacts and professional development opportunities are just some of the perks to membership, as well as that of having a strong advocacy “voice” for area businesses. The Chamber often works with the Village by having a presence on various commissions, committees and task forces.

M.G. Welbel & Associates are insurance brokers specializing in malpractice for clients such as lawyers, engineers and architects. The company president, Michael Welbel, says, “I like being in Northbrook because I live here and because it is a good location.” He points out in more detail why the area is so key, saying “There is good access to the Northwestern and Metra trains and it is easy to get to the city from here.” The proximity to Chicago is extremely important for businesses, and Welbel notes “The visibility here is good—plus we have a lot of our clients up in the area already.”

Welbel sees the tremendous value in being a member of the Chamber of Commerce and has even served as Chair of the Board of Directors. “We participate in the Chamber functions,” he says of his company, highlighting that he thinks that involvement is important—as well as enjoyable. From the Annual Golf Outing to PR events such as the Business Expo, there are many different ways to be a part of the business community and network.

“The location, the access to talented people and the ability to work closer to our clients has proven to be wonderful,” says Daniel Bryant, one of the principals of financial services company Sheridan Road. He goes on to note “There is also a diverse group of financial services companies here that have made Northbrook a destination for businesses from all over the country.” Bryant points out that the proximity to the city isn’t the only benefit of being in the Northbrook area, saying “It has wonderful restaurants, shopping, and is close to wonderful outdoor destinations such as Ravinia and The Botanic Gardens.”

Elizabeth Ingram, Customer Service Manager for Business Technology Partners, LLP also highlights location as a big plus to having a “home-base” in the village, saying “it is conveniently located for our clients and employees and there are excellent restaurants and venues to have business breakfasts/lunches and seminars.”

Josh Kadish, RFC – Financial Planner & Wealth Manager, says that one of the main reasons Retirement Planning Group, Inc. has built a business in Northbrook is the people of the town. “The community is well-established and embraces families,” he says, highlighting, “As a resident of Northbrook, it’s nice to engage in relationships with people of similar interests and background. I’ve coached baseball, basketball and soccer for my kids and their friends for years. Having a close tie to the community for both business and family life is fantastic.”

L. Steven Rakowski, LTD is a Northbrook law office specializing in family law, helping to maintain family relations both in the village and beyond through his practice. Steve Rakowski also lives in Northbrook and comments, “The amenities here are great. We have a tremendous library and the people are terrific; very well-educated and principled.”

Even those who aren’t located in Northbrook see the benefits to doing business there and appreciate its residents. FCL Builders has been doing quite a bit of work in the Northbrook area and they appreciate the village staff. “I would definitely have to say it is the people that make it so great to work here,” says Senior Project Manager Kyra Tillman, adding “the whole village staff is so accommodating. They make it easy.”

Whether choosing Northbrook for the people, the proximity to the city or the many amenities, businesses enjoy being in this north shore community. The village’s forethought in planning and a strong chamber of commerce contribute to the welcoming atmosphere, and there is always something new on the horizon. One thing is for sure. Newcomers to the area will enjoy their location and being a part of the local business community.

Planning Ahead…

Long-range planning for one’s financial future can be a difficult thing, and working with a knowledgeable professional can be a time-saving and worthwhile investment. Joshua Kadish, RFC is a Financial Planner and Wealth Manager for Retirement Planning Group, Inc., and says “Most people are good at what they do for a living. But when it comes to their finances, even the best-educated person can be at a loss trying to navigate all of the investments and strategies that exist in the financial industry.”

According to Kadish, there are four potential roadblocks to a comfortable and successful retirement: no plan, procrastination, inflation and paying too much in taxes. Addressing these issues with a planner first involves a discussion about wants and assets so that a plan can be tailored to the individual’s specific needs and situation. Kadish says, “We then take them through a full financial physical — identifying what their ailment may be, suggesting a prescription and then monitoring the medication that was initially prescribed. If a change in the medication is required, we want the client to know and be able to understand why.”

He goes on to add, “Planning doesn’t stop at investments. A true financial planner will also begin to address estate-planning issues — what would happen to people and their families in the event of death or incapacity. In addition, a planner will also discuss the importance of tax-efficiency and how to take money from the right places when needed.”

Knowledge is power and meeting with a professional can help answer questions one may have regarding the development and implementation of a retirement plan. As Kadish says, “The more you know, the better prepared you’ll be.”