The retailer is buying a 5.16-acre site between Clinton and Jefferson streets from Buffalo Grove-based River West Plaza Chicago LLC, which paid $7.7 million in October 2000 for what the city considers a strip mall on the decline. Tim Gloor of the department of planning and development says a Home Depot will revitalize a blighted commercial strip, as well as help pay for stormwater detention and traffic lights. "There's going to be a lot of developments coming up on Roosevelt Road," says planning and development commissioner Alicia Berg.
Ald. Burton Natarus had words of caution as well as advice for developers seeking to make Berg's come true. "I hope we can develop along the river," says the 42nd Ward alderman, referring to the South Branch of the Chicago River. "That's going to be a tough area to develop because there's no infrastructure for it." However, Home Depot is helping with the costs of infrastructure near its store.
"Right next to the Home Depot, I'd put a food store or a drug store. You'd make a lot of money," Natarus adds. "I think this is great. This will really spark that area."
The area is less than a mile west of the Central Station project, where Mayor Richard M. Daley owns a townhouse. This Home Depot will include a 383-space rooftop parking deck and is smaller than what would be allowed under current zoning as well as the underlying zoning used in the proposed business planned development.
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