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
Showing posts with label Shopping. Show all posts
Showing posts with label Shopping. Show all posts
Thursday, January 8, 2009
Friday, December 5, 2008
Aldi applying for liquor license
I found it interesting that Aldi has applied for a Class C liquor license (allowing liquor to be sold (not consumed) on premises). I've never seen liquor at Aldi before, particularly because most Aldi stores are too small. Although when I think about it, Aldi would be a great place to buy those holiday gift sets with the bottle and either a martini glass, or shot glass, or some other accessory. A bit late for this year, I suppose! :-)
Thursday, October 4, 2007
Big Retail Targets Tiny Towns
From the 9/17/07 issue of Crain's Chicago Business. Interesting to see that perhaps we won't see both of these properties go up. My Dad, who has worked in retail property management for many years mentioned that Tucker was the developer of the now demolished One Schaumburg Place.
By H. Lee Murphy
Far suburb Lakemoor, neighbor Volo to grow
The village of Volo has a population of just 2,300, while its sister community to the west, Lakemoor, has only 4,800 residents. But those numbers haven't stopped big retail developers from mapping plans for shopping centers in this far northwest suburban crossroads.
At the southwest corner of State Routes 12 and 120 in Lakemoor, Tucker Development Corp. of Highland Park has acquired 74 acres and is proposing a 700,000-square-foot center. Across the street, in Volo, a partnership headed by Mid-America Real Estate Corp. of Oakbrook Terrace has acquired 90 acres and plans a 750,000-square-foot project.
Tucker executives did not return calls; a Mid-America executive involved in the Volo development could not be reached.
Both communities have seen a surge of interest from residential developers.
In Lakemoor, Westminster Swanson Land Partners LLC has acquired three separate tracts for subdivisions encompassing more than 3,000 homes. In Volo, village President Burnell Russell says a half-dozen homebuilders already have gained approval to build more than 2,000 houses. He predicts the village will grow to 10,000 residents by 2013.
As for the dueling shopping centers, Mr. Russell says, "I'm not sure that there is enough demand for retail here to allow both of them to go ahead."
Indeed, the housing slowdown is likely to hold up some subdivision starts, and, if that happens, the retail projects could be delayed, too, says John Melaniphy, president of retail consultancy Melaniphy & Associates Inc. in Chicago.
"It would be very difficult for both of these shopping centers to move forward right now," he says. "The developers are counting on a tremendous amount of new housing. . . . It's likely to come down to whoever can sign up willing retail tenants first."
By H. Lee Murphy
Far suburb Lakemoor, neighbor Volo to grow
The village of Volo has a population of just 2,300, while its sister community to the west, Lakemoor, has only 4,800 residents. But those numbers haven't stopped big retail developers from mapping plans for shopping centers in this far northwest suburban crossroads.
At the southwest corner of State Routes 12 and 120 in Lakemoor, Tucker Development Corp. of Highland Park has acquired 74 acres and is proposing a 700,000-square-foot center. Across the street, in Volo, a partnership headed by Mid-America Real Estate Corp. of Oakbrook Terrace has acquired 90 acres and plans a 750,000-square-foot project.
Tucker executives did not return calls; a Mid-America executive involved in the Volo development could not be reached.
Both communities have seen a surge of interest from residential developers.
In Lakemoor, Westminster Swanson Land Partners LLC has acquired three separate tracts for subdivisions encompassing more than 3,000 homes. In Volo, village President Burnell Russell says a half-dozen homebuilders already have gained approval to build more than 2,000 houses. He predicts the village will grow to 10,000 residents by 2013.
As for the dueling shopping centers, Mr. Russell says, "I'm not sure that there is enough demand for retail here to allow both of them to go ahead."
Indeed, the housing slowdown is likely to hold up some subdivision starts, and, if that happens, the retail projects could be delayed, too, says John Melaniphy, president of retail consultancy Melaniphy & Associates Inc. in Chicago.
"It would be very difficult for both of these shopping centers to move forward right now," he says. "The developers are counting on a tremendous amount of new housing. . . . It's likely to come down to whoever can sign up willing retail tenants first."
Friday, September 28, 2007
Getting Steamed at Volo Commons
It has been confirmed that Starbucks will be going into the 3rd outlot of Home Depot next to AutoZone and Aldi at the corner of Route 12 and Hartigan Rd. No details on when ground will break or when it will open, but AutoZone only took about 3-6 months to build.
What I find puzzling, however, is that the site plan also shows a Ford/Kia dealership on the north side of Hartigan. I remember an article around the first of the year saying that the Village had been trying to lure the dealership from Fox Lake, but their indecision led the Village Board to rescind their incentive to build.
Check it out for yourself by clicking HERE
What I find puzzling, however, is that the site plan also shows a Ford/Kia dealership on the north side of Hartigan. I remember an article around the first of the year saying that the Village had been trying to lure the dealership from Fox Lake, but their indecision led the Village Board to rescind their incentive to build.
Check it out for yourself by clicking HERE
Thursday, September 27, 2007
Volo Village Marketplace!
I noticed the other day that the signs on both Gilmer Rd and 12 had been changed from Volo Lakes Crossing to Volo Village Marketplace. So I went surfing and some renderings are now posted!!!
Click HERE to see early photos of Volo Village Marketplace. The specs have yet to be loaded nor are more clearly visible site plans, but I expect that to change.
I've created a new section called 'links to retail projects' and added a link to both this project as well as Volo Village Corner Market.
Click HERE to see early photos of Volo Village Marketplace. The specs have yet to be loaded nor are more clearly visible site plans, but I expect that to change.
I've created a new section called 'links to retail projects' and added a link to both this project as well as Volo Village Corner Market.
Saturday, September 1, 2007
More On Volo Lakes Crossing
Found on cityfeet.com. I'm not sure why there's a discrepancy with the name of the property because I'm going by what's on the billboard. I'm guessing the discount store is the long-awaited Target and the home improvement store is Lowe's, because Home Depot and Menards are right up US-12.
By Gina Kenny of Globest.com
Friday, August 24, 2007 - VOLO, IL-A partnership between Orput Cos. Inc., headquartered in Rockford, IL; Oakbrook Terrace, IL-based Mid-America Asset Management In. and Irving, TX-based Archon Group LP has acquired 90 acres here at the southeast corner of State Route 120 and N. US Highway 12. The partnership plans to develop a 725,000-sf regional open air center to be called Volo Village Marketplace, which is expected to cost more than $100 million, according to a released statement from the partnership. Representatives from the partnership were not available for comment.
“Volo is experiencing and explosion of new residential development that is projected to double the population in four years, but there are no retail centers yet to serve the increasing demand,” said Greg Orput, director of development for his company, said in a statement.
The project, which will have approximately 475,000 of inline and out-lot spaces in addition to major anchors. The first phase of the development will have more than 400,000 sf. Construction will begin next spring with completion of the first phase expected in 2009. A “major discount department store” is currently in lease negotiations with the partnership to anchor the first phase of the development, with a home improvement store in negotiations to anchor the second phase, according to the released statement. Richard Spinnell, Barb Kading and Jaime Platt, with Mid America, are handling the leasing of the center. The project is expected to create approximately 750 jobs, according to the released statement.
By Gina Kenny of Globest.com
Friday, August 24, 2007 - VOLO, IL-A partnership between Orput Cos. Inc., headquartered in Rockford, IL; Oakbrook Terrace, IL-based Mid-America Asset Management In. and Irving, TX-based Archon Group LP has acquired 90 acres here at the southeast corner of State Route 120 and N. US Highway 12. The partnership plans to develop a 725,000-sf regional open air center to be called Volo Village Marketplace, which is expected to cost more than $100 million, according to a released statement from the partnership. Representatives from the partnership were not available for comment.
“Volo is experiencing and explosion of new residential development that is projected to double the population in four years, but there are no retail centers yet to serve the increasing demand,” said Greg Orput, director of development for his company, said in a statement.
The project, which will have approximately 475,000 of inline and out-lot spaces in addition to major anchors. The first phase of the development will have more than 400,000 sf. Construction will begin next spring with completion of the first phase expected in 2009. A “major discount department store” is currently in lease negotiations with the partnership to anchor the first phase of the development, with a home improvement store in negotiations to anchor the second phase, according to the released statement. Richard Spinnell, Barb Kading and Jaime Platt, with Mid America, are handling the leasing of the center. The project is expected to create approximately 750 jobs, according to the released statement.
Saturday, August 11, 2007
Volo Lakes Crossing
Last week driving down 12, they put the sign up for the new Volo Lakes Crossing shopping center on the SE side of 12 and 120. Unfortunately the sign is very small and since traffic has actually been moving well on 12 these days, I haven't been able to get a real good look at it other than the fact that it's supposed to open in the summer of 2009. Hopefully I'll be able to get a better look at it soon and try to find out more information. I think it's about time we get started on these projects as people are starting to bail out of this town after only a few years. There's over 30 properties for sale in my subdivision alone and that's not a good sign.
Tuesday, July 10, 2007
Shopping Center Delays
A few months back, I reported on the Volo Village Corner Market. Turns out the sign was recently changed and now says opening in Spring 2008. Let's hope.
That shopping center that was supposed to open this summer has barely gotten off the ground. Will we be lucky enough for 2008? I also expected the new shopping center in Lakemoor to have broken ground by now. What's going on??
That shopping center that was supposed to open this summer has barely gotten off the ground. Will we be lucky enough for 2008? I also expected the new shopping center in Lakemoor to have broken ground by now. What's going on??
Thursday, March 1, 2007
New Shopping Center in Volo!
Information regarding leasing stores at the new Volo Village Corner Market at the northeast corner of 12/59 and Volo Village Rd is now available. The sign has been saying Spring 2007 but they haven't even broken ground yet. Only a few months ago did they burn down the house that was originally on the property. It looks like a cute little strip mall. I'd expect to see your usual dry cleaners, a restaurant or two, etc.
Wednesday, February 21, 2007
New weblink...
I've added a new weblink (to the left) for the Volo Antique Malls. The Antique Malls are located in the same complex as the Volo Auto Museum.
Tuesday, February 20, 2007
Not quite on Target?
I remember sometime late last spring, a big article in the newspaper about a big retail center over by Gilmer and 120 featuring a Target store and some other 'big box' retail. There's also a sign at the northeast corner of 12 and Volo Village Rd announcing a new shopping center opening Spring, 2007. I haven't heard a word on either of these developments in some time. They were touting the Target for a summer, 2007 opening but if they haven't even broken ground yet, I don't think we'll be celebrating a new Target anytime soon. At least Best Buy is opening in both Mundelein AND McHenry this Friday. Although maybe that's not a bad thing that it's not nearby! :-)
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