$7 Million TIF Subsidy to Upscale Greektown Grocery

According to ChicagoRealEstateDaily.com, $7 million in public funds have been awarded to private developers to build an upscale grocery store in Greektown, across the street from the Dominick’s at 1 North Halsted Street.

A city panel Tuesday approved a $7-million public subsidy to help finance a Greektown development that will include a new Mariano’s Fresh Market store. The Chicago Community Development Commission approved a tax-increment financing grant of about 16.73% of the estimated $41.8 million cost of the retail project, which is proposed for a site near the southwest corner of Halsted and Monroe Streets, just west of the Kennedy Expressway. The 95,125-square-foot project would be anchored by Mariano’s, which is a new line of grocery stores by Milwaukee-based Roundy’s Supermarkets Inc. Mariano’s would take 75,595 square feet of space on the second level of the three-story structure.

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