Friday, September 25, 2020

Skender Closes New Modular Factory in Chicago

Hopes were high on May 28, 2019, when newly elected Chicago Mayor Lori Lightfoot helped cut the ribbon at Skender Manufacturing's modular plant on the city's Southwest Side. 

Company officials said their system would help revolutionize home construction, and soon steel frame units containing kitchens, bathrooms, sitting rooms and bedrooms started rolling off the assembly line, ready to be quickly assembled into homes. But the company, a spinoff of Chicago-based general contractor Skender, was forced to shut down after hitting roadblocks, including the coronavirus pandemic, that dried up the financing needed to keep the factory humming.

“Really what it came down to was raising capital,” said Skender Manufacturing CEO Mark Skender . “Obviously, it was a tough decision, but I still believe in the business model. This is what the housing industry needs.”

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