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player ready...The Fresh Market in Lincolnshire has been one of the village’s largest retail developments in recent years, and officials say they’re not yet sure how news of its sale could affect the local store.
The Fresh Market has entered into an agreement to be bought by Apollo Global Management for about $1.36 billion.
The Lincolnshire store opened in 2013 on the northeast corner of Illinois Route 22 and Milwaukee Avenue, answering what Lincolnshire officials said for years was the most frequent request they heard from residents — the need for an upscale grocer.
It was unclear if the sale will result in changes to Fresh Market’s individual stores.
“It’s too early to make any determination on real estate matters,” said Katie Turner, a spokeswoman for the grocery chain.
But Lincolnshire officials have kept their eyes on their grocery store since its opening. Their primary concern is a hurdle that has proved to be larger than they anticipated: the convenience of customers actually getting into the store.
Concrete medians at the intersection of Route 22 and Milwaukee extend back from the stoplights for hundreds of feet, and despite conversations with Lincolnshire officials, the Illinois Department of Transportation, which maintains both roads, has never been interested in cutting into them to allow easier access.
Thus, the Milwaukee entrance to the Fresh Market is about a third of a mile north, at the light-controlled intersection with Olde Half Day Road. From Route 22, customers can only make a right-hand entrance, and right-hand exit, from the westbound lanes.
Former village manager Bob Irvin, former Mayor Brett Blomberg and the other leaders of the time attracted the chain with an incentive package that is comparable to others in nearby municipalities: Fresh Market keeps 40 percent of the sales tax revenue it generates for its first seven years, capped annually at $100,000.
Village Hall had owned the land, but sold it to Inland Real Estate Corp. for $1.1 million, and Inland presently leases the lot at 475 Milwaukee Avenue to the Fresh Market. The group has presented several plans to the Village Board for additional retail and green space around the 24,000-square-foot grocery store.
When he announced his retirement early in 2013, Irvin called the addition of the Fresh Market one of the major accomplishments of his career. Current village manager Brad Burke said they had not heard anything from the grocery store or its potential buyer.
“That is all we have to go on at the moment,” he said.
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