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Chicago -- Jones Lang LaSalle said Monday that, on behalf of Monroe Investment Partners LLC, it has closed the sale of a 13.5-acre parcel on Chicago’s South Side to Walmart, which purchased the shovel-ready pad in the Chatham Market shopping center to build a 155,000-sq.-ft. supercenter.
This will be the first of six new full-scale stores Walmart has announced it plans to build in the City of Chicago.
Walmart has also leased an existing 10,000-sq.-ft. building at Chatham Market for a Walmart Express store -- a convenience grocery concept that will also be the first of its kind in Chicago.
Chatham Market is a 450,000-sq.-ft. shopping center currently tenanted by Lowe’s Home Improvement, Potbelly’s Sandwich Shop, and an Aldi grocery store that is under construction and slated to open June 1.
Construction of the supercenter is expected to get underway by late-April and the store is scheduled to open by the end of 2011 or early 2012.