Mariano's Eyeing March Opening for Ravenswood Store
RAVENSWOOD — The wait is almost over.
The alderman provided the update on the highly anticipated, 70,000-square-foot grocery store in his latest newsletter to constituents.
LA Fitness, also under construction at Ravenswood Station, is planning a mid-March opening as well. A sales office across the street is already signing up members.
The third component of the development, a Sears Auto Center, is expected to be up and running in January.
Along with the construction of a new Metra station and the Lawrence Avenue Streetscape, Ravenswood Station, initially announced by then Ald. Gene Schulter in 2010, is expected to spur further economic development on Lawrence Avenue, according to Pawar.
Ravenswood Station sits on the site of a former Sears parking lot. In pushing for the allocation of $4.5 million in Tax Increment Financing dollars for the project, Pawar estimated the development will generate $1 million in property taxes versus $110,000 for the vacant lot — recouping the TIF investment in less than five years.
Mariano's ongoing expansion plans in Chicago include the acquisition of three soon-to-be shuttered Dominick's stores.