For nearly 20 years, The Reading Tree has existed in the basement of a building in the heart of downtown Downers Grove, where every year thousands of students go to learn.

The ownership of the tutoring center recently changed hands and a ribbon-cutting ceremony will be Wednesday to celebrate the new beginning.

The ceremony will be conducted by the Downers Grove Chamber of Commerce and Industry and attended by Mayor Ron Sandack, the chamber and the staff of The Reading Tree.

Leonard Punt and his wife, Sarah, of Westmont founded The Reading Tree out of their garage in 1976. The couple recently sold it to Kurt Hodak.

Hodak, a Lisle resident, was working as an options trader, but wanted to own his own business.

Hodak, who owns The Reading Tree centers in Naperville and Plainfield, said he spent time searching for the right business, so when he learned Downers Grove location was for sale, he knew it was a perfect fit.

“Finally, I found the business where I checked off all the boxes and said this is the one,” Hodak said.

The Reading Tree employs about 40 part-time tutors who assist students of all ages in any subject. The center also provides classes for students to prepare for the SAT, ACT and high school entrance exams.

Punt and Hodak said the goal of center is to provide one-on-one tutoring to students. Students work with the same tutor during sessions in order to build a rapport.

Punt will remain involved with The Reading Tree as a consultant for program and staff development.

“We are the best kept secret in Downers Grove,” Punt said.