CHICAGO-Target Corp. has acquired an empty building at 3201 N. Ashland Ave. for a new store.
The company purchased the empty two-store property from an affiliate of Wells Fargo Bank N.A., which took the property back from an affiliate of Chicago-based Centrum Properties in November 2011, according to a deed filed with the county. A spokeswoman for Target, based in Minneapolis, confirmed that the retailer had purchased the nearly 75,000-sf property, but did not reveal a purchase price, according to ChicagoRealEstateDaily.com.
Target plans to open a store in the building, says Erin Duffy, director of community outreach in Ald. Tom Tunney's (44th) office, adding that it would probably need to amend zoning on the building, which requires a community review process and approval from the Plan Commission and then the City Council.
“We're just waiting for a proposal from Target and when we receive it that's when the vetting will start,” Duffy says. “We hope to have something to review with the community before spring.” See story in ChicagoRealEstateDaily.com.
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