I got an e-mail today about leasing opportunities at Tucker Development, the company handling the development of Shops at Lakemoor. The e-mail made no mention about availability at Shops at Lakemoor so I sent an e-mail to Tucker's VP of leasing asking if the project was on hold. I got a response back that they were waiting on securing an anchor. He wasn't able to provide me any other information but I could speculate that either Wal Mart backed out, or they were never officially signed on in the first place.
As for Volo Village Marketplace, their website hasn't been updated in almost 9 months and I never hear back from any of the leasing people when I try to contact them. I have a feeling this project is dead for the time being.
In unrelated news, it appears that the buildings occupying Starbucks/Foxxy Nail Spa and Autozone are for sale. I noticed the MidAmerica signs had been replaced with Next Realty signs about a week or two ago.
http://www.nextrealty.com/assets/pdf/lease/Volo_VoloCommons.pdf
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The credit markets have been frozen for easily over a year now, which haulted both of these projects, as well as most others in the Chicagoland area.
I received word several months ago that the Volo Village Marketplace project is on hold.
At first it seemed like a bad thing that they never got underway with these projects, but in hindsight, it's better that they didn't build out these huge shopping centers only for all the spaces to be vacant for years.
Let the credit markets thaw and then a shopping center can be built that actually has stores in it.
I am not suprised by these announcements. I would actually like to see a Super Wal Mart in the area to compete with the SuperTarget in Mundelein. However, I think the old Dominick's location in Wauconda would be a better location for this if they could acquire the land from landscaping company next to that location. It would bring much needed to relief to a blighted area and provide reasonable cost groceries to the area.
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