LAKE IN THE HILLS – A 22,000-square-foot Aldi is expected to open at the former Dominick’s site in Lake in the Hills, Economic Development Coordinator George Hahne announced Tuesday.
The 70,000-square-foot building at Randall and Algonquin roads has been vacant since 2014.
“This will open up another 50,000 square feet, now, that will be next to the Aldi, and it will be very desirable space to rent,” Hahne said at Tuesday’s Committee of the Whole meeting. “I would be very surprised if by year’s end that center would not be full.”
Farm, ranch and home retail chain Big R had planned to move in but backed out in August.
When Dominick’s stores closed, Jewel-Osco bought many of the stores’ leases, including the one in Lake in the Hills, Hahne said.
Several grocery stores had shown interest in the space before, Hahne said, but a lease between the shopping center’s owner, LNR Property, and Albertsons, the parent company of Jewel-Osco, prevented those deals from happening. However, on April 30, that lease ended.
“Because Albertsons continued to pay rent on that space, they had complete control as to who could get approved to go in there,” Hahne said. “That no longer exists, and in a very short time a new grocery store has agreed to go into that center.”
Aldi will be placing its new prototype in the store, which is larger than its typical stores, and will include a meat counter and larger liquor department, Hahne said. He said Aldi would not say whether its current location down the street on Randall Road would close. More details on the store were not immediately available.
Aldi has signed a letter of intent with the shopping center’s current owners, and the center will be auctioned off July 26, Hahne said.
“It helps them at auction make the center more valuable,” Hahne said of signing a letter of intent. “Aldi’s not going anywhere. They’re going to go in there.”
The center where the old Dominick’s was located includes about 99,000 square feet of retail space, Hahne said. Also included in the auction is a shopping center just north of the Dominick’s shopping center on Randall Road, which includes about 17,000 square feet of retail space, Hahne said.
Transwestern will be brokering the auction, and the price for the centers will start at $1.5 million, Hahne said. More details on the auction were not immediately available.
“We’re thrilled about this, we really are,” Hahne said after the meeting.