Will it be 'oh thank heaven' at oases? 7-Eleven may take over
Slurpees might be the coming attraction at Illinois tollway oases.
Agency officials said Thursday they received a request from ExxonMobil to transfer their lease for gas stations and convenience shops at the seven oases to 7-Eleven Inc.
ExxonMobil has 17 years left on its 25-year lease deal with the Illinois State Toll Highway Authority but it's been trying to get out of the deal since 2009.
Tollway board Director and Aurora Mayor Tom Weisner, who heads a committee aimed at improving the oases, confirmed officials were reviewing ExxonMobil's proposal.
The company operates both gas stations and On The Run stores outside the glass-covered rest stops. Tollway officials in March denied a similar request by ExxonMobil to hand the lease over to Lincolnshire-based Combined Oil Co., saying they were concerned the company didn't have the deep pockets to handle liability issues or any financial stresses.
That shouldn't be the case with 7-Eleven, which operates and franchises 7,100 stores in the United States and Canada.
While the shops inside the oases have underperformed traditionally, the gas stations and convenience stores managed by ExxonMobil have consistently exceeded revenue expectations.
The 25-year lease for operating the oases recently was auctioned off at a foreclosure sale. The lease now is owned by SFI Chicago Tollway LLC, a subsidiary of iStar Financial.