Polk Brothers
Encyclopedia
Polk Brothers was a large home appliance
and electronics
retailer in Chicago
, Illinois
that had 17 stores in the region at its peak in the 1980s.
One of the original discounters, Polk Bros. Inc. was founded by Sol Polk the son of Romanian
immigrants, on the Northwest Side in the Portage Park
community area of Chicago
in 1935. The first outlet was on Central Avenue under the name Central Appliance and Furniture at 3334 N. Central Avenue. Brothers Sol, Sam, Harry, David and Morris and their sister, Ghisella "Goldie" Bachmann, ran the business, which was renamed Polk Brothers in 1946. By the 1960s, there were two dozen or more family members including uncles, cousins, and in-laws, working in various departments of the company, which became one of the biggest appliance retailers in the United States
at a time when the industry was very fragmented.
Polk Bros. was the dominating electronics/appliance retailer in the Chicago market through the 1980s. The chain was known for its aggressive "let's make a deal" salesmen who would pair off with customers as they came in the door. It was an industry leader in innovative merchandising and was chosen to be the first retailer in the nation to sell color televisions and microwave ovens.
In the 1950s and 1960s, when most appliances and stereos were bought at department stores at full price, Polk Bros. pioneered the art of discounting. "The motto was that no customer walks out of the store without buying at least something," recalls Howard Polk. "Whatever it took to make a deal, we gave it to them." The company's influence lives on at Wal-Mart
and other chains that advertise, as Polk Bros. did, the lowest prices anywhere.
Owner Sol Polk was considered a master pitchman. He ran in-store promotions that offered everything from TVs to Christmas
trees. Polk served as the president of the North American Retail Dealers Association (NARDA), and his innovative and flamboyant promotions of the industry's products gained him nationwide recognition. He also was frequently called on to appear at hearings on proposed industry-related legislative and regulatory hearings held by the United States Congress
and federal and state agencies.
A fire during the evening of June 1, 1987 that gutted the company's warehouse and adjacent headquarters at 8311 W. North Avenue in Melrose Park
put the company in financial straits, and the death a year later of 71-year-old CEO Sol Polk sent it spiraling downward. The 1990-91 recession
and the arrival of new competitors such as Best Buy
sealed Polk Bros.' fate.
organizations. With assets of $385 million, the foundation last year dispensed 350 grants
totaling $15.7 million to organizations. The foundation has funded organizations such as the Chicago Children's Choir
, The Chicago High School for the Arts
(ChiArts), and the University of Chicago. The Polks also had a vast investment portfolio that included stock
in such bygone Chicago retailers as Wieboldt's
and Goldblatt's
. They also held thousands of acres of real estate around the country, most of it divested over the past 15 years. One of the last parcels, 60 acres (242,811.6 m²) prime in the Malibu Hills north of Los Angeles
, has a sale pending.
A Menards
currently occupies the rebuilt Polk Brothers store in Melrose Park.
Home appliance
Home appliances are electrical/mechanical machines which accomplish some household functions, such as cooking or cleaning. Home appliances can be classified into:*Major appliances, or White goods*Small appliances, or Brown goods...
and electronics
Electronics
Electronics is the branch of science, engineering and technology that deals with electrical circuits involving active electrical components such as vacuum tubes, transistors, diodes and integrated circuits, and associated passive interconnection technologies...
retailer in Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
, Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
that had 17 stores in the region at its peak in the 1980s.
One of the original discounters, Polk Bros. Inc. was founded by Sol Polk the son of Romanian
Romanians
The Romanians are an ethnic group native to Romania, who speak Romanian; they are the majority inhabitants of Romania....
immigrants, on the Northwest Side in the Portage Park
Portage Park, Chicago
Portage Park is located on the northwest side of the City of Chicago, Illinois and is one of 77 officially designated Chicago community areas. Portage Park is bordered by the community areas of Jefferson Park and Forest Glen to the north, Dunning and the suburb of Harwood Heights to the west,...
community area of Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
in 1935. The first outlet was on Central Avenue under the name Central Appliance and Furniture at 3334 N. Central Avenue. Brothers Sol, Sam, Harry, David and Morris and their sister, Ghisella "Goldie" Bachmann, ran the business, which was renamed Polk Brothers in 1946. By the 1960s, there were two dozen or more family members including uncles, cousins, and in-laws, working in various departments of the company, which became one of the biggest appliance retailers in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
at a time when the industry was very fragmented.
Polk Bros. was the dominating electronics/appliance retailer in the Chicago market through the 1980s. The chain was known for its aggressive "let's make a deal" salesmen who would pair off with customers as they came in the door. It was an industry leader in innovative merchandising and was chosen to be the first retailer in the nation to sell color televisions and microwave ovens.
In the 1950s and 1960s, when most appliances and stereos were bought at department stores at full price, Polk Bros. pioneered the art of discounting. "The motto was that no customer walks out of the store without buying at least something," recalls Howard Polk. "Whatever it took to make a deal, we gave it to them." The company's influence lives on at Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
and other chains that advertise, as Polk Bros. did, the lowest prices anywhere.
Owner Sol Polk was considered a master pitchman. He ran in-store promotions that offered everything from TVs to Christmas
Christmas
Christmas or Christmas Day is an annual holiday generally celebrated on December 25 by billions of people around the world. It is a Christian feast that commemorates the birth of Jesus Christ, liturgically closing the Advent season and initiating the season of Christmastide, which lasts twelve days...
trees. Polk served as the president of the North American Retail Dealers Association (NARDA), and his innovative and flamboyant promotions of the industry's products gained him nationwide recognition. He also was frequently called on to appear at hearings on proposed industry-related legislative and regulatory hearings held by the United States Congress
United States Congress
The United States Congress is the bicameral legislature of the federal government of the United States, consisting of the Senate and the House of Representatives. The Congress meets in the United States Capitol in Washington, D.C....
and federal and state agencies.
A fire during the evening of June 1, 1987 that gutted the company's warehouse and adjacent headquarters at 8311 W. North Avenue in Melrose Park
Melrose Park
-Places:In Australia:* Melrose Park, New South Wales* Melrose Park, South AustraliaIn the United States:* Melrose Park, Florida* Melrose Park, Illinois**Melrose Park , its railroad station* Melrose Park, New York...
put the company in financial straits, and the death a year later of 71-year-old CEO Sol Polk sent it spiraling downward. The 1990-91 recession
Late 1980s recession
The recession of the early 1990s describes the period of economic downturn affecting much of the world in the late 1980s and early 1990s.-Causes:...
and the arrival of new competitors such as Best Buy
Best Buy
Best Buy Co., Inc. is an American specialty retailer of consumer electronics in the United States, accounting for 19% of the market. It also operates in Mexico, Canada & China. The company's subsidiaries include Geek Squad, CinemaNow, Magnolia Audio Video, Pacific Sales, and, in Canada operates...
sealed Polk Bros.' fate.
Divestment & The Polk Foundation
The chain officially closed its doors in 1992 in a grand "going out of business" sale. But the company did not go bankrupt. The assets were rolled over into the Polk Bros. Foundation, today one of the Chicago area's largest charitableCharitable organization
A charitable organization is a type of non-profit organization . It differs from other types of NPOs in that it centers on philanthropic goals A charitable organization is a type of non-profit organization (NPO). It differs from other types of NPOs in that it centers on philanthropic goals A...
organizations. With assets of $385 million, the foundation last year dispensed 350 grants
Grant (money)
Grants are funds disbursed by one party , often a Government Department, Corporation, Foundation or Trust, to a recipient, often a nonprofit entity, educational institution, business or an individual. In order to receive a grant, some form of "Grant Writing" often referred to as either a proposal...
totaling $15.7 million to organizations. The foundation has funded organizations such as the Chicago Children's Choir
Chicago children's choir
The Chicago Children's Choir is a choir founded in 1956. It was founded in the neighborhood of Hyde Park in Chicago by the late Rev. Christopher Moore. The choir is located at the Cultural Center at 78 E. Washington Street...
, The Chicago High School for the Arts
Chicago High School for the Arts
The Chicago High School for the Arts offers a four-year college preparatory curriculum combined with intensive training in the performing and visual arts...
(ChiArts), and the University of Chicago. The Polks also had a vast investment portfolio that included stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
in such bygone Chicago retailers as Wieboldt's
Wieboldt's
Wieboldt Stores, Inc., also known as Wieboldt's, did business as a Chicago general retailer between 1883 and 1986. It was founded in 1883 by storekeeper William A. Wieboldt. The flagship location was located on Milwaukee Avenue in Chicago...
and Goldblatt's
Goldblatt's
Goldblatt's was a chain of local discount stores that operated in Chicago, Illinois as well as Indiana, Michigan and Wisconsin. Founded in 1914, the chain grew to more than twenty stores at its peak, gradually closing its stores in the 1990s and selling others to Ames before finally closing...
. They also held thousands of acres of real estate around the country, most of it divested over the past 15 years. One of the last parcels, 60 acres (242,811.6 m²) prime in the Malibu Hills north of Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
, has a sale pending.
A Menards
Menards
Menards is a chain of home improvement stores in the Midwestern United States.The privately held company headquartered in Eau Claire, Wisconsin has 262 stores in 13 states: Ohio, Michigan, Indiana, Illinois, Wisconsin, Minnesota, Iowa, Missouri, Nebraska, Kansas, South Dakota, North Dakota, and...
currently occupies the rebuilt Polk Brothers store in Melrose Park.