Glad to see their higher prices going to good use.
Seriously, $1 million to KEEP a store closed?
Many of these communities depend on the tax revenue generated from these vacancies & they literally have a line item in many smaller towns’ budgets.
If the towns can’t get their money money via those closed stores, there is always higher property taxes.
Some towns have benefited… Many are the towns with larger grocery stores next to the towns that have those vacancies.
I live near what was the Frankfort Dominick’s. If the parent company was blocking another grocery store from coming in there, they were successful. It was announced a short time ago that a 10-screen movie theater is being built there by a chain from Michigan – Emagine Entertainment. That store has been vacant for almost 3 years. I’m sure the vacancy hurt the other stores in the strip mall where it was located.
There were two other Dominick’s in the south suburbs — Palos Heights and Matteson. As far as I know, both of those buildings are also still vacant.