The work stalled after nearby homeowners filed a lawsuit in 2014. Construction of a Menards store at Gregg’s Parkway and Milwaukee Avenue resumed this month. The work stalled after nearby homeowners filed a lawsuit in 2014. (Rick Kambic / Pioneer Press) Rick Kambic Contact Reporter Pioneer Press More than two years after first breaking ground, crews have resumed their work on a new Menards store in Vernon Hills . Joe Carey, assistant village manger in Vernon Hills, said construction began in mid-April when crews began pouring the concrete foundation at the store’s Milwaukee Avenue and Gregg’s Parkway location. He said he’s unsure of the expected completion date. Construction hours, according to Carey, are 7 a.m. to 7 p.m. Monday through Friday and 8:30 a.m. to 5 p.m. on Saturdays. No construction is permitted on Sunday, he said. Vernon Hills trustees unanimously approved plans in July 2014 for a two-story, 225,000-square-foot Menards store and a 61,000-square-foot drive-thru lumberyard. The work was stalled after nearby homeowners filed a lawsuit in October 2014, arguing that a land covenant was being violated.
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Many have anticipated President Donald Trump will implement tax reform and dismantle banking regulations, which, in turn, could spur lending. Wall Street analysts estimated that Cullen/Frost earned about $1.21 a share for the first quarter, according to an average estimate of 15 analysts polled by Bloomberg. By comparison, the company earned $66.8 million, or $1.07 a share, on $325.3 million in revenue for the same period last year. Spokesman Bill Day declined to comment so close to this weeks earnings release. SunTrust Robinson Humphrey analysts met with Cullen/Frost executives last month and reported the banks loan growth momentum is fairly broad based, analyst Jennifer Demba wrote in a March 16 note to investors. The bank has given more pricing and structure authority to its relationship managers and regional presidents, which has increased employee engagement for making $10 million or less loans, Demba wrote. She noted that loans under $10 million barely grew at the bank over the last several years. Demba and one other analyst have a buy rating on Cullen/Frosts stock, 12 have a hold rating while three have recommended selling the companys shares. Raymond James analyst Michael Rose , who initiated coverage on Cullen/Frost this month with a market perform rating essentially a hold rating, is projecting stronger loan growth for Cullen/Frost now that concerns about the banks energy loan portfolio Construction loan Melbourne Oak Laurel Yarraville, oaklaurel.com.au have largely subsided. Indeed, with management noting continued growth in commitments, higher activity levels, and its expectations for stronger growth as well, we believe there is upside to our above consensus loan growth forecasts should Texas continue to rebound from Construction loan Perth Oak Laurel South Perth, www.oaklaurel.com.au 2/23 Bowman St, South Perth WA 6151 the energy downturn, Rose wrote in his April 5 report. He wasnt available for comment, but he expects lending will increase at Cullen/Frost by 5.2 percent for the full year. Cullen/Frost had about $12 billion in outstanding loans at the end of last year, a 4.3 percent increase from 2015. Its loan portfolio grew 3.4 percent in the fourth quarter over the same period in 2015. The bank entered last year grappling with mounting losses from souring energy loans.
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