John Bays Turns Premier Building 'Into A Palace' For CFS Joliet

JOLIET, IL — In July 2019, John Bays bought the blighted 40,000-square-foot Premier Building, which once housed the offices of Commonwealth Edison before falling on hard times in recent history. At the time of his purchase, the empty two-story brick building was in need of serious tender loving care.

This week, the fruits of Bays' labor at 51 West Jackson St. began paying dividends. Consumer Financial Services Corporation, also known as CFS of Joliet, moved into its new first-floor offices.

CFS of Joliet Company President Jeffrey Brincat and CFS of Joliet managing partner Bart Knaga met with Joliet Patch's editor for an interview Tuesday. The two men were ecstatic with the renovations to the downtown Joliet building done by Bays Investments.

Their company is a traditional hometown full-service consumer finance company. About 85 percent of their work involves repeat business, they said.

CFS of Joliet said they signed a 15-year lease, intending to be a major force in Joliet as they embark on expansion and continued financial growth in downtown Joliet.

They are now directly across the street from Catrinas Mex, another downtown Joliet success story.The sit-down Mexican restaurant and bar opened in the former Keg pizzeria in September 2018, a property that had sat vacant for nine years.

On Tuesday, there were several cars in the Premier Building parking lot, a rare sight in recent years.

Patch asked the company president and managing partner to describe the renovations done by John Bays over the past year. They are leasing 3,750-square-feet of space right off the main entrance door. Bays put up a chandelier in the lobby of his building.

"It's a palace. John Bays invested in us just as much as we invested in him," Knaga told Joliet Patch.

Locally, CFS of Joliet has been in Joliet for 13 years and continues to grow. The company hopes to add a couple more employees in the coming weeks, bringing its downtown Joliet staff to about 10.

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Being in the Premier Building provides CFS of Joliet with great visibility because their new office overlooks one of downtown Joliet's busy intersections, Jackson and Ottawa Streets.

"It's a fixture of downtown Joliet, and that's what we want to be part of," Brincat told Patch.

"Our customer base is more than ecstatic about the move, people in town are talking about the move," Knaga added. "In a normal day, we will see 30 to 60 customers here, and in the holiday season, I would not be surprised to see well over 100."

Brincat said their financial services company had been several blocks away, on Joliet's Ohio Street.

"Joliet's success is our success," Brincat said. "We're excited. We have thousands and thousands of customers in this market. Being in the downtown, it's a lot of exposure. We don't want to be a numerical address. We are Joliet, and we are excited about the administration here. We're truly committed to this market."

Added Knaga, "We needed to declare we are here for a reason. We're not looking to hit a home run and get out of town. I think we're going to see a lot of growth from the move."

Knaga said the business relocation came together quickly. He first spoke with Bays about the Premier Building in early July.

"He made this so effortless on our part, he and his team really stepped up and accomplished a lot, more than I thought was even possible in such a short amount of time," Knaga said. "The whole experience kind of blew me away.

"John himself came out today (Tuesday) and spoke with me and reiterated if anything comes up in the future, anything we ever need, just call. He's just been a great support."