The term sheet outlines the conditions for support including expenditures related to parking lot, landscaping, façade, building, and signage improvements. The village is considering a term sheet to provide support for Tony’s Fresh Market to open a new grocery store in the vacant Dominick's space.Staff continues to work with Tony's on its redevelopment plans and help to make sure that the project is completed. Tony's expects to complete at least $10 million in renovations to the property, and open a new grocery store before the end of 2022. The village approved a term sheet to provide support for Tony’s Fresh Market to open a new grocery store in the vacant Dominick's space.The opening of a Tony’s Finer Foods grocery store is estimated to bring 200 permanent jobs to the community and at least a $10 million investment in the redevelopment. With control of the retail space, Tony’s is now looking to move forward with a grocery store in Town Square. However, Albertson’s notified Tony’s that they would not extend their lease another five years in May, 2021. Although Tony’s Fresh Market previously announced plans to open a store in late 2016, they were prevented from opening the store due to a lease extension maintained by Albertsons, the parent company of Jewel-Osco and Dominick's.Īlbertsons continued paying the lease payments as well as extended the lease in order to preserve their market reach. Since the Dominick’s grocery store closed in December 2013, the Village of Schaumburg has been actively working to promote redevelopment of the site. The library, along with the Trickster Art Gallery and Farmers Market, are regional destinations for cultural programs and resources, which amounts to over 1 million visitors per year. Town Square is also home to the second largest public library in the State of Illinois: The Schaumburg Township District Library. Serving as the Village's "downtown", Town Square features tenants such as Walker Brothers Pancake House, Bonefish Grill, Oberweis Dairy, and Menchie's. Town Square is a prime destination in Schaumburg for shopping, dining, and cultural attractions. Town Square is located at the southwest corner of Schaumburg and Roselle Roads, within the Olde Schaumburg Centre (OSC) Historic District.
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