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$46M MetraMarket Gets Serving of TIF Help

CHICAGO-US Equities Inc. is handling development, financing, leasing and management of MetraMarket, a 112,000-sf redevelopment that will include a two-block stretch beneath overhead railroad tracks into retail space and restaurants.

By Mark Ruda | Updated on March 09, 2005

For more retail coverage, click GlobeSt.com/RETAIL.

CHICAGO-US Equities Inc. is not tearing down the wall that is part of Metra’s Ogilvie Transportation Center. However, the 112,000-sf retail redevelopment anchored by a 20,000-sf fresh food market is expected to link the West Loop with emerging residential neighborhoods west of the commuter rail station.

The city will contribute $12 million toward the $46.5-million project, being built under at ground level beneath 16 overhead Metra commuter railroad tracks that terminate a block south, at the base of Citicorp Center. Fashioned after venues such as Seattle’s Pike Place Market and New York’s Grand Central Market, MetraMarket will stretch two blocks, from Washington to Lake streets, incorporating the existing Randolph Street viaduct as well as the retail concourse at the base of the station.

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