(For more retail coverage, click GlobeSt.com/RETAIL.)

CHICAGO-The site of a former Dominick’s grocery store at the northwest corner of Lawrence and Pulaski avenues will be redeveloped into a four-building, 48,000-sf shopping center with Staples and Walgreens as anchor tenants. The $15-million planned development also will include a bank branch as well as a multi-tenant building.

“It’s not too often that we have a chance to redevelop a gateway to a community,” says Alderman Margaret Laurino. The 2.9-acre site is near the entrance to the Mayfair Historic Bungalow District.

Schaumburg-based Glendale 2004, LLC is proposing a 17,308-sf Staples store along Pulaski Avenue on the northern end of the site, a 14,707-sf Walgreens along the 4000 block of Lawrence Avenue, a 12,160-sf building along the western end of the site with multiple storefronts and a 3,893-sf branch bank along Pulaski Avenue. A bank tenant has yet to be identified, says Denise Roman of the Department of Planning and Development.

Glendale 2004, LLC paid $5.5 million for the site more than a year ago, according to property records, and has lined up $14.9 million in financing.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.