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Chicago Suburb's Retail Boom

BOLINGBROOK, IL-Best known for its industrial real estate, the village is primed to become a major focus of retail development.

By Dees Stribling | Updated on October 04, 2004

BOLINGBROOK, IL-It isn’t a major retail hub yet, but the village of Bolingbrook, long known for its warehouse-distribution growth, is well on its way. Last month major mall developer Forest City Enterprises broke ground on the 1.1 million-sf, open-air Bolingbrook Promenade. The center will boast the Chicago-area’s second Ikea as an anchor, and more major tenants are sure to follow, industry observers say.

“Even a retailer as large as Ikea doesn’t make a retail hub,” Leslie Mader, a retail specialist at Chicago-based Northern Realty Group, tells GlobeSt.Retail. “But once you get a big, solid anchor like Ikea, it’s a hub in the making.”

The Bolingbrook Ikea, which will be 310,000 sf with parking for 1,300 cars off Interstate-355, is slated for completion in time for the 2005 Christmas shopping season. It’s the signature store in the two-phase development. Phase I will include about 136,000 sf retail besides Ikea, “home décor and hard goods tenants,” according to Cleveland-based Forest City. Phase II, a 633,000-sf “lifestyle marketplace” at I-355 south of Boughton Road, will include a department store, according to the developer, with completion planned for the spring of 2006.

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