Buffalo Grove clears way for Woodman's
Buffalo Grove's long-dormant intersection of Milwaukee Avenue and Deerfield Parkway is beginning to stir, with the approval of an economic development agreement for a new grocery store and the greenlighting of a 10,700-square-foot retail development across the street anchored by a Potbelly restaurant.
On Monday, the village board approved incentives for Woodman's Food Markets Inc. to bring a 242,000-square-foot grocery store to the northwest corner of Milwaukee Avenue and Deerfield Parkway.
The agreement with the developer would provide up to $7 million in incentives over a 20-year period, of which $4 million would go toward road improvements at the intersection. Meanwhile, the village would gain around $25 million in new revenue over that period.
It will be located on a long-vacant property that gained notoriety as the Berenesa Plaza.
“We realize that we still have some heavy lifting to do on this project,” Bret Backus, vice president of real estate for Woodman's, said, referring to the road improvements. But he declared his commitment to Buffalo Grove.
Trustee Joanne Johnson said she was excited about the prospect of Woodman's coming into the community.
“I remember a sign, maybe two decades ago. 'Berenesa Plaza opening 1992.' It sat vacant this entire time. This is a great use for that property,” she said.
The board, in addition to approving the economic development agreement, also referred the development proposal to the planning and zoning commission.
The plan, in addition to the grocery store on the north side of Deerfield Parkway, includes a fuel center, a convenience store, a quick lube and a car wash on the south side of Deerfield Parkway, as well as a 5.5 acres of commercial and retail development at the southwest corner of the intersection.
The 5.5 acres will be developed by the Shorewood Development Group.
The 5.5-acre development would be tied by an easement to the proposal for the 10,700-square-foot retail development at 20914 and 20926 N. Milwaukee Ave. The site was formerly occupied by a McDonald's restaurant that was recently demolished.
MJK/Buffalo Grove Real Estate Holding Company LLC is the owner of the 1.5-acre property. MJK was represented at Monday's meeting by Jeffrey Silverman and attorney Steven Elrod, who assured Trustee Jeffrey Berman that the easement would become a reality.
“We are prepared to deliver the cross-access easement today,” Elrod said.
Silverman said the plan has been modified from the original proposal in January, which called for two buildings. That has been condensed into one building with a drive-through.