LOWE'S GROWS: Lowe's Cos. plans to open its second store in the city at Chatham Market on the South Side, a shopping center under development at the shuttered Ryerson steel plant at 83rd Street and Stewart Avenue.
The North Carolina-based home-improvement store paid an undisclosed sum for an 11.5-acre site where it plans to build a 117,000-square-foot store, according to the project's developer, Archon Group LP, a unit of Goldman Sachs Group Inc.
The shopping center is expected to open in phases starting in the fourth quarter of 2007.
Lowe's will be one of two anchors; Archon is looking for a second anchor. In 2004, the Chicago City Council blocked Wal-Mart Stores Inc. from building a store on the site by declining to approve necessary zoning changes.
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