Groundbreaking at least a year away for CostcoOctober 1, 2010
Local merchants who have expressed concern over a new Costco wholesale warehouse’s potential economic impact, or who have expressed hope the Costco will attract more shoppers to the community, will not know for a while what actual effect the new store at Ashland Avenue and 14th Street will have.
The land lies within the Illinois Medical District Commission’s jurisdiction; IMD officials said no groundbreaking date has been set.
Mike Stratis, principal of Intrepid Properties, which is part of Northwest Atlantic, Costco’s real estate advisor, stated the store has no estimates nor time schedules that groundbreaking will not happen for “at least a year.”
The 16-acre tract of vacant land at 1400 S. Ashland Ave. slated for the Costco is bounded by 15th Street on the south, Hastings Street (1350 south) on the north, Ashland on the east, and the Chicago Transit Authority Pink Line tracks on the west.