Lake View Mariano’s: ‘We’re a Couple Months Away’

Ald. Tom Tunney (44th) said he thinks developers will still propose plans for a new Mariano’s Fresh Market in Lake View during the next few months, even though there are three other grocery stores now within a few blocks of the development site.

Tunney told residents during Monday night’s South East Lake View Neighbors meeting that although the site at 3030 N. Broadway faced foreclosure problems, he’s positive about what the future holds.

“What I’m looking forward to this year, hopefully with spring, is a plan to bring the Mariano’s back to the Dominick’s site,” Tunney said. “My belief is that we’re going to see a positive development there that will include a Mariano’s. … They haven’t really come to me like, ‘now we own the site,’ because there were foreclosure problems with that, but I think we’re a couple months away.”

"There’s a lot of money invested in that site to date, and we’ve still got a parking lot."

Chicago investor Allison Davis leads the venture at the former Dominick’s grocery store. Wanxiang America Real Estate LLC, a firm with Chinese investors, sued in October to collect $8.3 million from Davis’ fund DV Urban Realty Partners after she seized the property from its original owners in 2011.

This comes after the City of Chicago pulled its pension funds from the investment after not living up to expectations, according to Tunney’s Chief of Staff Bennett Lawson. The site has been under development negotiations since the 20,000-square-foot grocery store burned down in 2005.

At one point, plans at the site were approved and developers even broke ground on the project in September of 2008, but the financing fell through shortly after. Currently, it's a parking lot.

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But with Trader Joe’s, the Market Place and now a Walmart Neighborhood Market open just blocks away from the proposed site, some residents wonder if the area needs another grocery store. Tunney says he’s hears differently.

“Everyone I’ve talked to on the street would love a Mariano’s concept there,” Tunney said. “But they’ll have to build their business back, because people have made their choices elsewhere. I don’t want people to say, ‘Alderman, we wanted a Mariano’s, so thanks for the Walmart.’ If you don’t want Walmart, don’t go to Walmart. But Trader Joe’s is exceeding all expectations.”

Consequently, Tunney says if Mariano’s is going to work, developers and investors need to get the nearly foreclosed investment back on its feet.

“They’re a tenant,” Tunney said. “(Mariano’s) is not a developer, they’re a tenant. They’re still very eager about the site and want to figure out how it works. There’s a lot of money invested in that site to date, and we’ve still got a parking lot. I hope in the next couple months we can come back with a really solid plan.”

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