Jewel in talks with potential buyer of former Wheaton store

A potential buyer is negotiating to purchase the former Jewel Food Store in downtown Wheaton.

But whether the deal happens - and if it means downtown Wheaton will get another grocer - remains to be seen.

News of the possible sale comes a week after city officials expressed frustration that Jewel-Osco was asking potential buyers to pay $4 million for the 19,500-square-foot building along Willow Avenue.

On Tuesday morning, Jewel-Osco representatives informed Mayor Michael Gresk the asking price was reduced to $3.25 million.

Gresk said the lower price and word there is a potential buyer has him optimistic the shuttered building will be sold.

"Anything that would move our local economy along - develop vacant property and put it back on the tax rolls - is a wonderful, wonderful thing," he said.

The store closed in February 2008 after more than four decades in operation. But the sale was delayed for more than a year so CVS Caremark Corp. and Supervalu Inc. - Jewel-Osco's parent company - could sort out their co-ownership of the building.

Supervalu finally acquired the CVS share of the site and became the property's sole owner in May 2009.

A Supervalu spokeswoman confirmed the company is in discussions with a potential buyer and "are hopeful that a deal can be reached."

"The property is for sale and we're eager to talk with any interested parties," spokeswoman Haley Marconett said. She said she couldn't provide any details about the potential buyer.

Wheaton officials repeatedly have said they would like to see another grocery store on the property. But Gresk said the city must consider all options in the down economy.

"I think it's important to get that property redeveloped," he said. "If it can be a retail grocery outlet, that would be wonderful. But we're always open for discussion on any other type of development there."

Gresk said Wheaton needs viable businesses in its downtown - not a boarded-up building.