SBA 504 the Right Fit for a Family Business

The Ultimate Paint Shop provides complete collision repair, detailing, and other services for all vehicles – but specializes in luxury car brands. Serving Chicagoland for more than 35 years, this family business is certified to service Audi, Lamborghini, Porsche, Bentley, and Tesla vehicles.

Company History

Joseph Young, also known as, “Mighty Joe Young,” always had the knack and passion for fixing cars. In 1984 he officially started the Ultimate Paint Shop, working out of his own garage. In 1986, he moved to the current location in Lake Bluff, renting out one bay of the 21,600 square foot building. As business grew, so did the space he rented – eventually taking over more than two-thirds of the facility. Plus, in 2013, Ultimate Paint Shop opened its second location in Highland Park. Joe, with his wife Lois, who manages the Lake Bluff location, built the Ultimate Paint Shop into a successful business through hard work, expertise, and top-notch customer service.

SBA 504 Loan with SomerCor

After renting their space in Lake Bluff for 32 years, Joe and Lois worked with the SomerCor team on an SBA 504 loan to purchase the building. At the heart of the decision was the expectation that two of their daughters, already involved in daily operations, would take over the business one day. With an eye toward the future, purchasing the entire building provides the option to expand and renovate. Plus, by owning the space instead of renting, the company saves $65,000 a year!

The Ultimate Paint Shop is Open for Business!

The Ultimate Paint Shop team continues to serve their customers. In addition to following statewide social distancing and mask guidelines, customer vehicles are also sanitized after work is complete. Visit http://www.theultimatepaintshop.com/ for details on available services and hours of operation.