Supply chain issues delay opening of Tony's Fresh Market in Schaumburg to spring
Supply chain issues have prevented the intended end-of-year opening of Tony's Fresh Market in a former Dominick's building in Schaumburg, but a spring debut for the long-awaited grocery store in Town Square is now anticipated.
The village's finance and general government committee has already recommended changing the targeted opening date in the redevelopment agreement from Dec. 1 to April 1, which the full village board is scheduled to vote on Jan. 10.
Rival chain Albertsons' use of a long-term lease option to keep the 65,000-square-foot building vacant delayed Tony's Fresh Market's use of its own purchased property for six years before it could even start planning its redevelopment in earnest in 2021.
But the latest delay is due entirely to the supply chain disruptions that have plagued many businesses during 2022. The impact on the forthcoming Tony's location at 200 S. Roselle Road has been specifically with the delivery of its refrigeration units.
But by tweaking the redevelopment agreement, village officials are making April 1 the date by which the grocery store is expected to be open with at least 200 employees and reflecting a minimum $10 million investment in the building.
The requirements are a consequence of the Class 7B Cook County tax incentive for which the store has been approved.
The incentive cuts property taxes nearly in half over a 12-year period. It works by reducing the level of assessment on the property from 25% to 10% for the first 10 years, then raising it to 15% in year 11 and 20% in year 12 before returning to normal.
In addition to that break, Schaumburg trustees last year voted 5-1 to provide $3 million in village funding for the expected $13 million renovation of the building. Dominick's stopped operating there when the chain shut down on Dec. 31, 2013.
In addition to the creation of 200 new jobs, the Schaumburg store is expected to generate more than $300,000 in annual sales taxes and food and beverage taxes for the village.
The building was originally seen as a major anchor of the entire Town Square development at the southwest corner of Schaumburg and Roselle roads, but has now been shuttered for nine years.
That vacancy could have gone on until 2036 if Albertsons had not stopped using its long-term lease options last year.
Tony's is also requesting a waiver of $32,574 in permit fees by trustees on Jan. 10.
Representatives of Tony's could not be reached for comment Thursday.