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Big Box in the City

CHICAGO-A panel of retail experts here agrees that large-format retail has a future in the city.

By Dees Stribling | Updated on December 01, 2004

CHICAGO-”We have 19 stores that serve Chicago neighborhoods, out of 101 stores in metro Chicago,” said Michael Mallon, VP of real estate for Dominick’s Finer Foods, a subsidiary of Safeway, as a speaker at “Large Format and Big Box Retail: The Chicago Story” a conference sponsored by DePaul University on Wednesday. “We should have 25 or even 50 more,” he continued. “There’s that much opportunity in the city.”

On that point, virtually all the speakers at the conference could agree. Namely, that despite recent retail development in urban areas, there are significant opportunities for retailers and retail development in the city, where large yet well-to-do populations are currently underserved by big box retailers. The question then becomes, how to best take advantage of the opportunities?

Other speakers at the conference, before a standing-room only audience at the Harris Bank Building auditorium in Downtown Chicago, included Shelly Herman, president of MetroEdge, a subsidiary of Chicago’s South Shore Bank; Liz Holland, a trustee of ICSC and CEO of the Abbell Credit Corp.; Jennifer Boss, SVP of Heitman; and Forrest Russell, senior development manager for Target.

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