Another proposal for a long-idle corner in southern Lake Forest appears to have fizzled out as the coffee retailer Starbucks has decided not to construct a new store, according to the developers.
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Starbucks recently informed Iosue Investments, the owners of the property at the southeastern corner of Everett and Waukegan Roads, that they would not proceed with their plans for a new shop. In March 2024, the City Council approved a special use permit for the coffee giant to construct an approximate 2,200 square foot store at the location. However, but the Iosue team recently received word from Starbucks that the new store is not coming now.
“We were disappointed, but we respect their decision,” said Jack Frigo, the commercial real estate advisor for the Iosue family. “They were great to work with, and their real estate representatives were professional, but they made a business decision to pause the store.”
Starbucks representatives did not respond to multiple requests for comment on their decision.
There are other Starbucks in Lake Forest, including one at 840 S. Waukegan Road, very close to the proposed site of the new store.
Moving forward, Frigo did not rule out the possibility that Starbucks could reverse its decision at some point in the future. Yet for now, the team is contemplating other ideas for the 2.3-acre site, stating they have been in touch with another coffee shop.
He added other ideas under consideration, including multi-family housing and medical offices. Moreover, the Iosue family could take on a partner in a future development.
“We are re-evaluating the property and what options might be suitable in today’s environment,” Frigo said.
Iosue Investments owns an existing building adjacent to the proposed location for the coffee shop.
The Starbucks decision represents just the latest setback to get some business activity at the 1045 S. Waukegan Road site that has been dormant for nearly two decades.
In 2008, Pasquesi Home & Garden moved out of the location as they moved their operation up to Lake Bluff. For more than a decade, an empty, approximately 6,700 square foot building languished on the property, characterized as an “eyesore” by one former City Council member.
Over the years, the city received a series of development ideas, but ultimately nothing materialized. In July 2018, the City Council unanimously rejected a proposal for a combination car wash, gas station, and convenience store upon fierce opposition from some of the property’s neighbors.
In April 2019, Iosue purchased the building and the medical office building, leading to the demolition of the former Pasquesi building.
Initially, Iosue proposed a three-story, 28,000 square foot medical building that was approved by the City Council, but the company did not proceed amid changing healthcare needs during the worst of the coronavirus pandemic.
Iosue then proposed an apartment building for the site, but it was not recommended by the city’s plan commission and it was later withdrawn from consideration.
Finally, Iosue proposed a scaled-back idea with Starbucks that was supported by the City Council.
Frigo conceded there is some frustration at this point, but he believes there will be another chapter written.
“The Iosue family has invested a great deal of time and family to create something special on this property so we are selective about what we do but development is challenging in this environment so we are looking at things that would be financially viable in this location.”
In the meantime, the site in southern Lake Forest will continue to sit dormant.
“Certainly everyone would like to see it developed,” Lake Forest Community Development Director Catherine Czerniak said. “The city is anxious to see it developed, but certainly wants to do something that is right for the community and is right for the Waukegan Road business district.”
Daniel I. Dorfman is a freelance reporter for Pioneer Press.
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