New Libertyville shopping center coming, with a side of burgers
One of the few new retail centers being built in the Lake County area is progressing in Libertyville, with an early summer opening planned.
And when the neighborhood center on the former site of Miller-Krueger Dodge is complete, a fast-growing burger chain intent on making a mark in the Chicago area will be among the tenants.
"We're in an extreme growth mode," said Molly Catalano, spokeswoman for Five Guys Burgers and Fries, which originated in Washington, D.C. "Our decor isn't especially wonderful - it's simple. Our focus is on the food."
Five Guys, which operates 556 stores in 36 states, already had a following, but it received an unexpected public relations boost last May when President Barack Obama made a surprise stop at a Washington location and ordered a cheeseburger.
The chain, which focuses on hamburgers and fries, has locations in Chicago, Oak Park, Orland Park, Mount Prospect, Bloomingdale and Naperville.
New stores are set to open Feb. 22 in the Deer Park Town Center in Deer Park and at the end of March in Schaumburg.
"I'd say they're cooking everywhere," said Will Ander, senior partner with McMillan/Doolittle LLP, a Chicago retail consultant. "They're in the trend category."
The Libertyville Five Guys restaurant is planned to open in June or July, followed closely by an opening in existing space in the Rivertree Court shopping center in Vernon Hills.
"The demographics in Libertyville are very strong. We look at it as a separate trade area from Vernon Hills," said Steve Frishman, leasing agent with Mid-America Real Estate Group.
Though relatively small with about 19,000 square feet of retail space, the Libertyville center is one of few new commercial projects under way.
Marketing materials show nearly 24,000 vehicles use Milwaukee Avenue each day, and the average annual income within a mile of the site is more than $127,000. About 120,000 people live within five miles, according to Mid-America.
Frishman said the Libertyville center, on Milwaukee Avenue just north of Route 176, is about 75 percent leased.
Other tenants so far include Chipotle Mexican Grill Inc., which also operates in Vernon Hills, as well as Dunkin' Donuts, a dry cleaner and T-Mobile.
"Obviously, now is a good time with the real estate market the way it is," Ander said of Five Guys' expansion. "That's one of the reasons they're trying to grow fast."
Jeff Silverman, of MJK Real Estate Holding Co., the Deerfield developer of the location, said towns have become more willing to have an open mind when working with developers and retailers because of the tough market.
However, he said, retailers are becoming more demanding and banks remain more selective in their lending criteria, making it more difficult to finance deals.
The Libertyville project consists of two buildings. The design was planned and approved as an extension of the downtown shopping area to the north.
The design is different from a typical neighborhood center in that the backs of the buildings will front Milwaukee Avenue, with entrances on the west side.
The property had been active as a car dealership for at least 30 years before it was purchased and the Dodge brand moved in 2007.