Logan Square's Discount Mega Mall, a large indoor flea market that stretches down Milwaukee Avenue in the heart of the neighborhood may soon bite the dust. The large three acre property has been on the market for some time via commercial retail broker Cushman & Wakefield, however, more recently, the property has appeared on retail developer Terraco's site as a commercial listing. According to a rep from Ald. Waguespack's office, the developer is claiming to have an option to purchase the 130,680 square foot property and is currently exploring various redevelopment options. An initial concept presented to Ald. Waguespack's staff includes a large retail development with two anchor tenants and other smaller retail spaces.
The primary anchors of the redevelopment concept includes a grocer and a fitness center, with a small surface parking lot located behind the development near the Blue Line tracks. The development would include no residential units. Terraco's previous development efforts include a lot of strip malls, however, the company did facilitate the development of a Trader Joe's in Evanston. Could a TJ's come to Milwaukee Avenue in the heart of Logan Square? It is certainly possible. Members from Armitage Baptist Church have indicated that Terraco has approached the church to inquire about hosting a community meeting to present the Mega Mall redevelopment proposal. No details for when and where a public meeting will take place have been confirmed.
Members from Terraco Development & Management did not immediately return our call for more info.
·Logan Square [Terraco Development]