LSC Development LLC, an affiliate of California-based self-storage operator LifeStorage LP, presented its plan last week to the Wauconda, Ill., Village Board of Trustees to convert the former Dominick’s Finer Foods grocery store into self-storage. The 72,385-square-foot building is in the Wauconda Crossings shopping center at 610 W. Liberty St. and has been vacant since 2004, according to the source.
"We could always see [that vacancy] was a problem," Jean Jodoin, co-owner of LSC Development, told the board. "This is a great opportunity to turn something that is nothing into something."
The project would convert the interior of the building to self-storage and add boat/RV storage outside. A smaller space would be preserved for a smaller retail business, with mentioned possibilities including a Panera Bread restaurant or Starbucks, the source reported.
The board hasn’t yet voted on the project, which is only in the conceptual stages, but several trustees voiced their strong support. "I wish I had a buck for every time someone has asked me, ‘What's going on with the Dominick's site?’" said trustee John Barbini. "I think it's very important we get this site occupied and functioning."
Business interest in redeveloping the grocery store has been low because the lease held by Dominick’s parent company Safeway Inc. doesn’t expire until 2017, according to the source. The building is owned by Inland Real Estate Corp.
Founded in 2011, LifeStorage is headquartered in Roseville, Calif. It currently owns, has under purchase agreement or operates 89 self-storage properties in nine states, with a heavy concentration in the Chicagoland area.