The area was the site of a former steel plant and is near theDan Ryan Expressway. As part of the development, a four-lane roadwill be constructed that will connect 83rd Street to 87th Street,according to a company statement. The Lowe's will have frontage onthe newly constructed street, called Holland Road. Curt Bailey,director of retail investments at the Chicago regional office ofArchon, did not return a phone call for comment.

The first phase of the development is expected to open at thebeginning of the fourth quarter. The power center, which will havean additional anchor tenant besides Lowe's, will have retailersfrom 15,000 sf to 45,000 sf. There will also be ground leases forsix pad sites. Archon's Chicago office and Tartan Realty arecoordinating the leasing of Chatham Market. Doug Reichl with TartanRealty represented Lowe's.

The Lowe's will be the second in the city of Chicago and the21st location in the greater Chicago metropolitan area. Lowe'splans to open 150 to 160 stores this year, in line with the 155that opened in 2006. The retailer will also enter Canada duringthis year's second half, and executives have said the 1,385-unitchain still has the potential for 2,000 domestic stores.