The 144,000-sf Target Greatland will be among six stores in the retailer's Chicago portfolio, including another location under construction at Roosevelt Road and Clark Street, and also within a few miles of another store at 44th Street and Pulaski Avenue. However, the biggest prize is Target's twice-expanded outlet at 2656 N. Elston Ave., its first location within the city limits and No. 1 in sales volume in the entire chain.

"This is the first time Target has approached the city for assistance," says Kathy Feingold of the department of planning and development's finance division.

While the cost of building the store are estimated at $11 million, Target Corp. is acquiring the 12.1 acres, which includes an outparcel for another retailer, from Harlem Irving Cos. for $8.8 million, according to Feingold. However, another $2.3 million is needed for environmental remediation-—more than 30 underground fuel tanks must be removed—-and a cartage company that now rents a facility there will be relocated at a cost up to $1 million.

"It's estimated that without TIF assistance, the developer would not see an adequate return and would not go forward," says Feingold, adding costs of building the Lower West Side store are $10 million more than a prototypical Target Greatland.

Despite a location close to one existing and another store under construction, Russell is bullish on the chances for the project at 33rd and Damen, near a Stevenson Expressway interchange.

"We're a research-driven company," Russell explains. "We have stores in certain locations in parts of the country that are less than a mile apart…We're confident that we'll be successful."

Target also is considering sites at Peterson Avenue and Ridge Boulevard in the West Rogers Park neighborhood as well as the Wilson Yards area in Uptown.