Please find the Cook County Class 7C Application from Jay Patel (the “Applicant”) for the 1,800 square foot building at 780 W Golf Road. The Applicant is proposing an Indian restaurant called Masala Pizza. The concept focuses on recipes and ideas that mix food and culture. The result is fast, modern, and fresh Indian food. The Applicant is currently operating Masala Pizza in three other locations, Lincoln Park, River North, and Glenview.
The applicant estimates Masala Pizza will employ 8 new full-time employees. Given the capacity of the property and the support of increased business over the next several years, the applicant projects the business to increase its employees by 25% within the first three years, bringing the total count to 10 full-time employees. The applicant is purchasing the property for $550,000 and plans to invest $300,000 in renovations and buildouts to redevelop and modernize the current facility.
The estimated market value with improvements is estimated to be $514,512. The estimated property taxes after improvements and the Class 7C would be $13,976.
Village staff and the Steering Committee support this application as it has presented. If the Schaumburg Business Development Commission recommends approval, staff will work with the Applicant to make the incentive contingent upon the property owner’s investment in the subject property.