Atlanta-based Home Depot is spending $4 billion this year to build 200 stores. Although that averages $20 million a store, the $4-billion figure also includes renovations at existing stores, a Home Depot spokesperson adds.
Meanwhile, Lincoln Village Shopping Center, the city's first, is now in the process of undergoing a $25-million makeover.
A former Super K-mart will be demolished to make way for the Home Depot, while an MB Bank branch and Firestone Tire operation will remain on the 12-acre site. Home Depot will take over K-mart's long-term ground lease on the property, according to a company spokesperson.
One outlot may be developed later, but will be used for Home Depot parking until plans are approved.
Home Depot's plans to build a store in the West Rogers Park community were recommended for approval recently by the City of Chicago plan commission.
"The community welcomes this change," says 50th Ward Ald. Bernard Stone. "We're delighted Home Depot took over the site."
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