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Chicago area grocer plans first Wisconsin store for West Milwaukee

Land and Space

Journal Sentinel business reporter Tom Daykin talks about commercial real estate and development.

Sept. 30, 2010
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By Tom Daykin of the Journal Sentinel

Sept. 30, 2010 0

The owner of Cermak Fresh Market, based in Aurora, Ill., plans to open a similar store in West Milwaukee that focuses on selling fresh fruits and vegetables.

Mike Bousis, who opened the Aurora store in 2007, said Thursday he plans to have the new store open within 18 months. It would be just south of Target, 1501 Miller Park Way.

The 61,000-square-foot store would have 120 employees, Bousis said.

Construction is to begin next spring, and the project financing would include $400,000 in village funds. Cermak Fresh Market will lease the building from Milwaukee developer Endeavour Corp., Bousis said.

The Bousis family operates 10 other stores in Chicago, and its suburbs. The Aurora store is the only one owned by Mike Bousis, who said the family has long considered an expansion into southeastern Wisconsin.

The Cermak stores "are really big on produce, meat and deli," Bousis said.

The Aurora store also has an extensive selection of ethnic foods, including Hispanic, Asian and Polish items, he said.

The West Milwaukee Community Development Authority is recommending the village provide $400,000 to help develop the store, Village Administrator Kim Egan said.

Those funds would be repaid through property taxes generated by the store, and other new developments within a tax incremental financing district, Egan said. The payback period would take an estimated four to five years, she said.

The Village Board is to consider that funding proposal at its Oct. 18 meeting.

The $5.3 million project also is to receive financing through federal New Markets tax credits, along with private financing, Egan said. Those tax credits are provided for commercial developments that occur in lower-income areas.

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About Tom Daykin

Tom Daykin covers commercial real estate and development.

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Commercial Real Estate News

Helpful Links and Resources

Check the Milwaukee Assessor’s Office website, which includes tools to look up property assessments.

Find property assessments for other communities throughout the state at AssessorData.org.

The Milwaukee Department of City Development website includes information on the city Plan Commission and Redevelopment Authority.

The Commercial Association of Realtors Wisconsin offers information on commercial realtors and real estate.

The Milwaukee chapter of the Institute of Real Estate Management serves the needs of real estate management professionals

The Wisconsin chapter of the NAIOP Commercial Real Estate Development Association aims to serve developers and owners of commercial real estate.

Awards

The Land and Space blog was recognized by the Society of American Business Editors and Writers in the blog category for dailies with circulation between 200,000 to 500,000.

The judges said, "Daykin’s aggressive reporting and accessible, explanatory writing make him a must-read for his tight-knit and highly engaged audience."


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