"Because of the phenomenal success Trader Joe's has seen in Chicagoland, we're continuing to increase the emphasis of new stores inthis market," says Kevin Deighan, director of retail services for Los Angeles-based Investment Development Services Inc.
While Deighan oversees national brokerage and development activities for Trader Joe's, Mid-America Real Estate principals Stan Nitzberg and Paul Bryant,along with VPs Dan Tausk and Andy Bulson, will be on the ground in the Chicago market.
The selections are expected to be watched by city and suburban officials looking for additional sales tax revenue.
Sales at Trader Joe's run about $4 million to $5 million a year, according to retail consultants Melaniphy & Associates. That gives municipalities up to $50,000 a year per store. Plans already include Trader Joe's opening stores in the Near North Side and South Loop neighborhoods, as well as inner suburbs north and west of the city.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
