Incentive package brings Ulta to Mundelein Crossings

  • An Ulta Beauty will move into the former Party City space in Mundelein Crossings, Mundelein village officials announced Tuesday. The village agreed to an incentive package with Mundelein Crossings' developer to lure to beauty store.

      An Ulta Beauty will move into the former Party City space in Mundelein Crossings, Mundelein village officials announced Tuesday. The village agreed to an incentive package with Mundelein Crossings' developer to lure to beauty store. Paul Valade | Staff Photographer

  • An Ulta Beauty store is headed to Mundelein Crossings, thanks to financial incentives approved Monday night by the village board. An opening date has not been determined.

      An Ulta Beauty store is headed to Mundelein Crossings, thanks to financial incentives approved Monday night by the village board. An opening date has not been determined. Paul Valade | Staff Photographer

 
 
Updated 3/28/2017 5:09 PM

An Ulta Beauty store is headed to Mundelein, thanks to financial incentives approved Monday by the village board.

But the deal isn't directly with the Bolingbrook-based retailer. Rather, it's between the village and Bill Shiner, the developer who owns the Mundelein Crossings shopping center where the store will be.

 

The center is at the northeast corner of routes 60 and 83 and includes a TJ Maxx and HomeGoods, a Super Target store and a Home Depot, among other tenants.

The new deal calls for the village to give Shiner $700,000 in sales tax revenue generated by the Ulta store and the TJ Maxx store. That's on top of $550,000 in sales-tax revenue he's already getting from the village from TJ Maxx's sales-tax receipts.

The money will be paid out over five years, at about $140,000 each year, starting in fall 2018 when the original TJ Maxx sales-tax deal is set to end.

The board approved the terms without objection. Trustee Bill Rekus was absent.

Village officials are excited about the pact and Ulta's pending arrival.

"We're proud to welcome Ulta to Mundelein, and also all of the out-of-town shoppers the store will attract," Mayor Steve Lentz said.

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Shiner said he expects Ulta will draw several other retailers to the shopping center within 16 months. He thanked village officials for their support.

Ulta will set up in an 11,000-square-foot space that held a Party City store from April 2010 until its closing in January. An opening date for Ulta hasn't been determined. The nearest Ulta store is in neighboring Vernon Hills.

The company will spend about $1.3 million renovating the interior and exterior of the Mundelein space, according to village documents. Part of the tax revenue Shiner will receive from Mundelein will go to the company to help cover those costs.

Mundelein has received more than $18 million in sales tax revenue from the stores in Mundelein Crossings since the center opened in 2005, officials said. Of that sum, the village has given Shiner nearly $6.9 million through earlier tax-sharing agreements.

Village leaders say the new deal will attract more stores to Mundelein at a time when many brick-and-mortar retailers are struggling nationally.

"Incentive deals help Mundelein stay competitive," Lentz said.

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