NOW:53219:USA00949
http://widgets.journalinteractive.com/cache/JIResponseCacher.ashx?duration=5&url=http%3A%2F%2Fdata.wp.myweather.net%2FeWxII%2F%3Fdata%3D*USA00949
28°
H 28° L 27°
Cloudy | 6MPH

'Armpit' Kohl's site finally draws genuine interest from a developer

Sept. 21, 2006

After years of serving as an eyesore, a former Kohl's Food Store may finally get a makeover.

"For the first time ever, we have somebody who's really interested in restoring the vacant Kohl's building," said Chuck Erickson, director of Planning and Economic Development, concerning the structure at 5455 S. 27th St.

That person is Alan Kaplan, president of Repak Real Estate Development in Deerfield, Ill.. Kaplan has requested that the city authorize its financial consulting firm, Ehlers & Associates, to conduct a tax-incremental financing feasibility analysis for the site.

His intention is to remodel the building shell, add landscaping, replace lighting and signage, and make it a more attractive location for businesses looking to lease space. He has accepted an offer to purchase the property with contingencies, Erickson said.

Residents often cite the property as one of the worst-looking, most underused in the city, Mayor Michael Neitzke said. The 163,000-square-foot building also suffers from asbestos problems, he added.

Redeveloping this property would go a long way in improving the city's portion of the commercial corridor.

"This is part of a bigger plan to better the South 27th Street area," Neitzke said.

The building is owned by Masue Trust, a Florida-based real estate investment trust that continues to collect rent money from the former tenant.

"The owner has no incentive whatsoever to do anything with the property," Neitzke said.

As a result, the asking price stands far above market value. So in order for Kaplan to take the chance and invest in the property, he will need financial support, Erickson said.

"We've had this armpit sitting there," Erickson said. "It will likely stay that way unless there's some assistance from the city to make it an attractive place for commercial real estate activity."

Kaplan also told city officials he'd like to develop the corner outlot, a spot that could attract such businesses as banks, coffee shops or fast-food restaurants.

If the vacant Kohl's Food Store is redeveloped, city officials would like to see changes to the entire nearly 4-acre site; however, the northern end of the parcel that includes Pet World belongs to a separate owner, bringing another party into the mix.

The committee unanimously agreed to forward the issue to the Common Council with a recommendation contingent on the developer reimbursing the city for the study costs.

The council was expected to take up the issue at its Sept. 19 meeting, after the Observer's deadline.

This site uses Facebook comments to make it easier for you to contribute. If you see a comment you would like to flag for spam or abuse, click the "x" in the upper right of it. By posting, you agree to our Terms of Use.

Suburban News Roundup

E-mail Newsletter

Your link to the biggest stories in the suburbs delivered Thursday mornings.


Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter
Get the Newsletter!

Login or Register to manage all your newsletter preferences.

Community Watch

» Denny's coming to Highway 100 in Greenfield 1/21

» Suspected getaway driver in deadly robbery tells police being helpful 'in her nature' Updated:  1/19

» Whitnall heads to referendum on $29.4 million in facilities projects 1/19

» 2 arrested in fatal Waukesha Citgo robbery linked to violent spree Updated:  1/16

» Whitnall ready to go for $29.4 million facilities referendums 1/15

» Suburban Selfies contest extended through Jan. 25; two selfie solutions to get you started! 1/15

» Hotel, retail/office, residential project proposed at Greenfield former school 1/14

» West Allis man's gunshot death believed to be self-inflicted 1/12

» Whitnall School District closes because of cold 1/8

» Report: Nathan Hale High School again evacuated after copycat bomb threat 1/7

» Race for West Allis-West Milwaukee School Board only local matchup 1/7

» Whitnall School Board to be only local race in Greenfield next April 1/7

» Nathan Hale High School evacuated because of bomb threat 1/6

» Drunken driving suspected in West Allis crash that injured 3 12/27

» Man killed when struck by vehicle in West Milwaukee 12/26

» Suburban Selfies is back! Win a $200 dinner! 12/24

» Crash closes 2 left lanes of eastbound I-894 at S. 60th St. 12/22

» Westbound I-94 near Miller Park to close for 31 hours beginning Friday night 12/18

» Central wrestlers take control of GMC race with 29-27 win over Falls 12/17

» Whitnall School Board closer to facilities referendum decision 12/16

» Blocked sewer leads to sewage spill into Honey Creek 12/12

» Greenfield St. Vincent de Paul store opening soon, accepting donations 12/11

» West Allis-West Milwaukee Chamber of Commerce fundraiser does OK 12/10

» West Allis man sentenced for voting twice in 2012 presidential election 12/10

» Proposed Meijer's aesthetics, driveway concern Greenfield commission 12/10

View All Posts Got a tip? Welcome rss

Advertisement

Advertisement

Local Business Directory

CONNECT