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Observations and insights into real estate happenings along E. Randolph St. in downtown Chicago

East Randolph Street, Chicago

Chicago Retail Space – Lakeshore East Downtown Chicago

April 26th, 2010 · No Comments · Uncategorized

In response to this post about Roundy’s breaking ground on the New East Side, I have received a ton of questions about the new Chicago retail space and its features. The developer, Magellan Development, has been kind enough to share some information with me about the project and its future. Not only will the Village Market Center be the home to a grocery store, multiple restaurants and other retail outlets, it will also be another part of the green village being developed on the New East Side. The space will be eco-friendly and designed to seek silver LEED accreditation.

Roundy’s at the new Village Market Center
Anchoring the new retail development will be a 55,000-square-foot bi-level Roundy’s Supermarket, which will not only be the first tenant of the Village Market Center, but also the first traditional grocery store in the New East Side neighborhood. Magellan, in its efforts to turn the New East Side and the Lakeshore East community into an “urban village” is happy to bring this kind of shopping to the area. A market will bring the neighborhood closer to an all-inclusive village where you can live, work, eat and shop.

Roundy’s is a leading grocer in the Midwest, with nearly $4 billion in sales and 20,000 employees, but this will be its first location in Chicago. Founded in Milwaukee in 1872, it operates 151 retail grocery stores under the Pick’n Save, Copps, Rainbow and Metro Market banners in Wisconsin and Minnesota. Magellan and the New East Side are excited to welcome the company.

“We are excited about opening new stores in the city of Chicago,” said Robert Mariano, Roundy’s chairman and CEO. “We look forward to serving customers at Lakeshore East and the surrounding neighborhood.”

Other Tenants of Village Market Center
The center will also host a number of restaurants. Already joining Roundy’s at the Village Market Center is a new location of the famous restaurant group, III Forks Steakhouse. A breakfast cafe will also be added for New East Side residents to frequent for coffee in the morning or brunch on the weekends. More retailers and vendors will fill out the 105,000-square-foot space by completion.

A Green Retail Space in Lakeshore East
The southwest corner of Lakeshore East will host the retail center that will contribute to the overall green initiative of the community. The Village Market Center will feature:

  • A 15,000-square-foot, un-irrigated green roof
  • Pedestrian promenades
  • A recycling program for all of its tenants
  • High efficiency appliances
  • Window systems to help limit the resources needed to heat and cool the complex

Additionally, the development will be made to lower the impact of the automobiles of its shoppers and workers. Since it’s within walking distance of many residential developments, bike paths and public transit routes, it should encourage patrons to walk over to shop and eat. There will also be public storage for the bikes of patrons and employees who ride to the Center to work and shop. For those who drive, there will be preferred parking for fuel-efficient and alternative-fuel vehicles.

Lakeshore East and the New East Side area have always been great places to live, because of their great location. Now, they’ll be a convenient place to live, too, with shopping and dining even closer than it was before!

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