"The key to the whole thing is creating a high-quality, indoor, year-round French market," Tobin said. "The idea is to bring some energy and retail presence to the unused space near the Ogilvie Transportation Center to serve the neighborhood that grew up around it. There was nothing around this train station 15 years ago; now you have residential and increasing commuter traffic."

The development will be anchored by a 15,000-sf French market managed by Paris-based Sebastien Bensidoun, which will offer fresh produce, meats, fish, cheese and a bakery. CVS has signed another significant lease, planning a 14,000-sf pharmacy. "What you haven't had is any new retail that has been open to serve the market," Tobin said. "Not only will this serve the people living and working in the area, but people traveling through the Metra station."

The development will offer 90,000 sf of retail space, and 110,000 sf of customer parking. The first phase will bring 60,000 sf of retail space, with the remaining 30,000 sf coming in the second phase, Tobin said. Lease rates at the MetraMarket range between $37.50 and $60, net, Tobin said. U.S. Equities, which is partnering with Metra in the development, is acting as leasing agent. MetraMarket is a little more than 50 percent pre-leased, Tobin said.