Chicago-based company is planning to build next-generation refueling spots, including a filling station location in Central Illinois at St. Elmo. Vast, a private equity firm headquartered in Chicago is developing filling stations “you’ll actually want to spend time at.”
The gas stations will use energy more sustainably and the projects will be built with electric vehicles (EVs) as part of a blueprint for expansion and growth.
“There are a lot of gas station models out there where there is a limited offering and the stores are modestly built. We are building stations that are larger and more grand, which will hopefully provide a better experience to the customers and will be more friendly to the environment,” said Jeff Rehberger, Vast founder and CEO, who is also CEO of Lucky Lincoln Gaming.
Plans include stations potentially equipped with the following green technology:
- Solar panels on the canopy
- Geothermal heating/cooling
- Blending biodiesel on site
- Fast charging stations for EVs
The stations will be branded as “Lindy’s” by Midwest Real Estate (MRE), one of the businesses under the Vast company umbrella. It will be the first ground-up development project for MRE.
The St. Elmo location is expected to open for business in about six months.
- Estimated project cost: more than $10 MM
- Estimated job creation: dozens of jobs in construction/retail
- Tax revenue for the community: More than $100 K annually
“It will be a really nice project for St. Elmo, who currently does not have a gas station offering off their interstate exit. There used to be a station years ago, but it is closed,” noted Rehberger.
Vast is a private equity firm (an investment company using its own funds or funds from other investors to help expand and create business and jobs) focused on broad-based economic solutions for rural communities. Headquartered in Chicago, the Midwest’s economic hub, Vast has valuable access to advocate for these economically underserved areas. Vast is building business in three categories: gaming, real estate and retail. The LLC businesses that are part of this emerging Illinois conglomerate include Lucky Lincoln Gaming, Lucky Coin, Highland Crypto Technologies, MRE Community Solar, Midwest Real Estate Investments of Illinois, Cloud 9 Cannabis and Aviator Coffee.
