West Hartford, CT – On September 28, 2012, Simon Konover Development Corporation (SKDC), along with its partner, Outlook Development Group (Outlook) of Franklin, Wisconsin, celebrated a new retail development in downtown Chicago.
“This project has been a major focus of our efforts over the past year,” according to James Wakim, President and Chief Operating Officer of The Simon Konover Company (TSKC). “This acquisition and groundbreaking is a significant achievement as we continue to expand our investment and commitment to the Midwest.”
A partnership among SKDC, Outlook and Bucksbaum Retail Properties, 1625 South Clark Street, LLC, acquired the 3-acre parcel from the City of Chicago on September 14, 2012. The partnership has completed the permitting process and now embarks on the construction of a 65,500 square foot Mariano’s Fresh Market with two levels of parking on the roof at the corner of Clark and 16th Street in Chicago’s South Loop.
The groundbreaking ceremony was attended by Pat Dowell, Alderman from Chicago’s Third Ward, Bob Mariano, Chairman and CEO of Roundy’s Supermarkets and founder of Mariano’s Fresh Markets, as well as executives from TSKC and Outlook, as well as other project-team representatives.
“Mariano’s, owned by Roundy’s Supermarkets, Inc., will provide an exciting new grocery option,” according to Bradford H. Wainman, Sr. Vice president of SKDC. “The Mariano’s experience is like no other market and will be a welcome addition to shopping in the South Loop.”
SKDC and Outlook signed a joint venture agreement in 2011 to focus on the acquisition and development of projects in the Midwest, with a principal focus on retail and medical office opportunities. In the past year, the joint venture has purchased properties in Brookfield, Ft. Atkinson, Madison, Milwaukee, and Hartford, Wisconsin.
Headquartered in West Hartford, Connecticut, SKDC is a division of The Simon Konover Company. Started over 50 years ago, The Simon Konover Company is a fully integrated real estate organization nationally-recognized as one of the premier real estate entities operating throughout the Midwest and Eastern United States.
The Simon Konover Company cumulatively employs hundreds of people through its operating companies including Konover Commercial Corporation, Konover Hotel Corporation, Konover Residential Corporation, Simon Konover Development Corporation, SIKON Construction Services, LLC, and Konover South, LLC. The Simon Konover Company and its related-entities own and manage over 9,800 apartment units, 3.5 million square feet of office and industrial space, 2.8 million square feet of retail space, and a portfolio of limited service hotels.