Buffalo Grove Approves $7 Million Incentives Package to Bring Woodman’s to Town

The village of Buffalo Grove on Monday approved $7 million in incentives for Woodman’s Food Market and annexed the land for the proposed site on the northwest corner of Deerfield Parkway and Milwaukee Avenue, according to the Buffalo Grove Countryside.

The incentives package is explained in this Daily Herald article:

The agreement with the developer would provide up to $7 million in incentives over a 20-year period, of which $4 million would go toward road improvements at the intersection. Meanwhile, the village would gain around $25 million in new revenue over that period.

Woodman’s Food Markets and Shorewood Development Group are proposing a 25-acre commercial development at the western corners of Deerfield Parkway and Milwaukee Avenue. The development would be anchored by a 240,000-square-foot Woodman’s Food Market located on the northwest corner of the intersection. Woodman’s also plans to develop a fuel center, convenience store,quick lube and carwash on the south side of Deerfield Parkway, according to a press release from the village of Buffalo Grove.

The remaining five acres of the development would be located on the southwest corner of the intersection and would include commercial and retail developments.

“We are very excited to introduce Woodman’s and their development team to our village and look forward to having them join the Buffalo Grove community. Woodman's will be an outstanding addition to our retail offerings,” said Village President Beverly Sussman.

If the project receives final approval from the village, Woodman’s would plan to open its new Buffalo Grove location in 2018.

Woodman’s officials said they were initially attracted to Buffalo Grove due to its prime regional location, strong purchasing power, and business-friendly atmosphere, according to the news release.
“Woodman’s is excited about the opportunity to serve the Buffalo Grove market,” said Phil Woodman, President of Woodman’s Food Markets. “We feel the village’s assets and location are ideal.”

Trustees on Monday also sent the development proposal to the village’s planning and zoning commission, according to the Daily Herald.

The project site was annexed into Buffalo Grove in 1990 and designated for commercial development.

More via the Buffalo Grove Countryside and the Daily Herald