South Loop Marketplace is a Jewel-Osco (formerly Dominick’s) anchored retail center located on the site of the former elevated Soo Line Terminal, south of Roosevelt Road between Clinton and Canal Streets on five city blocks within the City of Chicago. The total development comprises over 125,000 square feet of retail space in the rapidly redeveloping area of the south loop neighborhoods.
The property was abandoned and detrimental to the surrounding community for a number of years. HSA was successful in acquiring and effecting the redevelopment of a site that had been subject to several other previously unsuccessful attempts to redevelop. Long an eyesore, HSA worked closely with the City of Chicago to create a plan and secure the incentives needed to make the project a reality. A TIF was established for the redevelopment, and two city streets which previously traversed beneath the elevated Soo Line Terminal structure were vacated to create the required site.
The successful development required the demolition and crushing of a massive elevated structure existing on the site. To keep costs reasonable, all concrete was crushed on site and used for site development work. Due to tremendous initial response to the project by area and national retailers, HSA was able to proceed where others had tried and failed, and finished
the project ahead of schedule 90% leased.
South Loop Marketplace has been a great economic success for HSA and the surrounding community. It has provided consumers in the rapidly developing south loop neighborhoods with much needed retail development. The Dominick’s food center (now occupied by Jewel-Osco), along with several local and national retailers, has served the needs of the residents and workers resulting in the tremendous growth in the area.
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