National retailers bringing new stores to the Windy City
Image via Chicago Architecture
Residents of the South Side will be glad to know—maybe—that Wal-Mart is set to open another store in the area. The Bentonville, Ark.-based retailer will be the anchor-tenant of the retail component of a new project slated for completion in 2014.
The Neighborhood Market store will occupy 41,000 square feet in a 4-acre retail and residential development, called Shops and Lofts at 47, on the southwest corner of 47th Street and Cottage Grove Avenue on Chicago’s south side. Joining other local businesses and boutiques, art galleries, bistros, clothing stores and cafes, the new Wal-Mart store is part of a revitalization plan meant to breathe new life into the entire area. According to Crain’s,the mixed-use development will consist of 55,000 square feet of retail space owned by a Columbus, Ohio-based entity and 96 rental units, including 24 apartments rented at market rates, 44 affordable units and 28 Chicago Housing Authority units, owned by Community Builders Inc., a Boston-based affordable-housing developer.
Wal-Mart is not the only major retailer kicking off new projects in the Windy City. In an attempt to reach more customers in tighter urban locations, Target conceived and developed a new concept of smaller stores, yet perfectly capable of holding everything from jelly to jeans. The new sleek design is aimed to attract more customers by appealing to the needs and lifestyle of urban dwellers; each store will hold within its premises special Wi-Fi areas that will facilitate testing of Apple Inc devices. Shoppers will be able to test iPads or browse for other items, not contained by the store. First CityTarget stores opened this summer in key locations throughout the U.S., including Chicago, Los Angeles and Seattle.
The Chicago CityTarget will be located in a 113-year old historical landmark constructed by architect Louis Sullivan in the heart of the city at the corner of State and Madison Streets, as reported by Reuters, neighboring popular brand stores like H&M, Forever 21, Office Depot, Nordstrom Rack, Sears and T.J. Maxx.