Chicago area grocer plans first Wisconsin store for West Milwaukee
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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The project, called Edison Place, would be developed on 2.25 acres overlooking the Milwaukee River, north of E. Knapp St.
Katie Falvey, Marcus Corp. vice president of real estate, declined to provide details about the plans, which could change.
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.
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