Jewel to close, replace store near Wrigley Field
(Crain's) — A Jewel-Osco near Wrigley Field will close later this month as the grocer prepares to move ahead with plans to build a new store and more parking.
Jewel, owned by Minnesota-based Supervalu Inc., plans to close its 21,875-square-foot store at 3630 N. Southport Ave. on June 26, according to a spokeswoman. Demolition is to begin in early August, with the opening of the new store scheduled for fall 2010.
The grocer had planned to rebuild the Southport store as part of an expansion plan announced in mid-2006 when Supervalu bought Jewel's parent company, Albertson's Inc.
The new store will be about 50,000 square feet and include a mezzanine level with liquor and photo departments, according to the spokeswoman. There also will be 132 spaces of underground parking. The spokeswoman declined to disclose the price of the project.
Related story: Jewel plans biggest expansion in decades
A bigger store with increased parking and more offerings could help Jewel in its effort to lure customers away from lower-priced competitors. In April, the company announced it would cut prices up to 20% on thousands of items.
Related story: Jewel cuts prices to lure shoppers
With limited expansion space available in the city, the multi-level format has become more popular. Other multi-level structures include a Dominick's at 959 W. Fullerton Ave. in Lincoln Park and a Whole Foods at 3300 N. Ashland Ave. in Lakeview.
"What you're seeing is grocers understanding the importance of being able to do business in a tight environment," says Michael Mallon, president of Wheaton-based retail development firm Mallon & Associates Inc. "They can't roll out their prototype stores because they just don't fit."
