The Downers Grove Economic Development Corporation (DGEDC) has announced that Wisconsin-based, employee-owned Steinhafels, Inc. plans to open a 112,000 sq. ft. furniture store at 1021 Butterfield Road in Downers Grove. The company will be making improvements to the exterior and interior of the building. Steinhafels expects to open the store this fall.
“We are very excited to be opening our 11th Furniture and Mattress Superstore in Downers Grove this Fall. We look forward to welcoming over 50 new associates to our company. As an employee-owned company, we know our associates are our greatest asset.” said Steinhafels president, Andrew Steinhafel.
Steinhafels is a fourth-generation furniture retailer, founded in 1934. The company sells quality home furnishings, mattresses and home décor. Steinhafels currently has sixteen stores, fourteen in Wisconsin and two in Illinois. The company projects that the Downers Grove store will have sales of $21 million in the first year, with 3% growth in subsequent years. On May 4, 2021 the Steinhafels family announced it had sold its shares to an Employee Stock Ownership Plan (ESOP), making the company 100% employee owned.
