The project, which replaces a former Chicago Housing Authoritywarehouse, vacant bowling alley and two storefronts, was recentlyendorsed by the plan commission. While a Walgreens is taking a14,820-sf building in the 800 block of West 115th Street, Aldi willoperate a store out of 16,101 sf in the 11500 block of SouthHalsted Street. Another 28,600-sf, multi-tenant building is slatedfor the west side of the 6.6-acre site, along a railroad right ofway. In addition to Aldi and Walgreens, other tenants have signedletters of intent for 16,000 sf.

"After discussions with a number of retailers, we have finallyfound partners eager to invest in this community and spark thegrowth that is necessary for a healthy economy," says PreferredDevelopment executive vice president Thomas Morabito. His companyacquired the site in 2004 for $2.3 million.

Although it is less than a block from a Jewel-Osco, Morabito'sretail project is within two miles from a 172-unit single-familyand townhouse development on the former Chicago Bridge & IronCo. site at 105th Street and Vincennes Avenue. Prices will rangefrom $230,000 to $426,000. The city is supporting the developmentwith $11.6 million in tax increment financing.