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Target Trying to Sell Lakeview Building at Belmont, Ashland

By Serena Dai | May 8, 2014 11:56am
 Target is trying to sell the building at 3201 N. Ashland Ave., which it bought last year in hopes of opening a store.
Target is trying to sell the building at 3201 N. Ashland Ave., which it bought last year in hopes of opening a store.
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DNAinfo/Erica Demarest

LAKEVIEW — Target is trying to sell a former bank building at Lincoln, Belmont and Ashland avenues that it bought in hopes of building a store, the company said.

The Minneapolis-based company bought the building at 3201 N. Ashland Ave. last year with plans of opening a store there — going as far as showing preliminary renderings to West Lakeview Neighbors last May and announcing an October 2015 opening.

The long-vacant building previously was slated to be a condo building with 130 units.

But Target spokeswoman Erika Winkels said in an email Thursday that the retailer is "actively marketing the property for sale."

She refused to say why the building was up for sale or whether Target had completely ditched plans for a store on the property.

Nationally, the retailer's stock has dipped since a massive data security breach last year.  The stock went down again this week after CEO Gregg Steinhafel resigned unexpectedly.

Last quarter, the company's revenue was down nearly 4 percent, with earnings per share down nearly 50 percent, according to Forbes.

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