Tenants in a proposed new retail development on North Henderson Street in Galesburg could be open for business by the Spring of 2024. And one of the potential occupants is a national chain sandwich shop.
Adam Firsel, managing principal of Chicago-based Core Acquisitions, tells WGIL his firm hopes to break ground late this summer on a multi-tenant retail center on the site of the former Sirloin Stockade restaurant at 2200 N. Henderson St.
Firsel said he expects most tenants will open for business in March/April of 2024.
The former buffet restaurant, according to Firsel, will be demolished to make room for two new retail buildings — one a 9,000 square foot multi-tenant building and the other a 15,000 square foot free standing building.
The new shells are expected to be completed by the end of 2023 and according to Firsel would then be available for final build-outs by tenants.
Core Acquisitions purchased the former Sirloin Stockade property from Rochelle Tennyson for $700,000 on Nov. 19, 2020. Sirloin Stockade first opened in Galesburg in 1991 and closed in late June 2019.
National sandwich chain eyes one of the stores
While Firsel said he’s unable to reveal names of tenants for 2200 N. Henderson St. project, construction plans obtained through a Freedom of Information Act request to the the City of Galesburg show a glimpse of what could be coming to the development.
Site plans show the multi-tenant building being located at the far south end of the property, with an entrance near the existing entrance of the former Sirloin Stockade. It would have space for four retail stores.
According to construction plans, one of the tenants would be a Jersey Mike’s Subs sandwich shop, while another slot would be occupied by Mattress Firm, a national mattress store. The other two slots are unaccounted for.
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The larger 15,000 square foot building would be located to the north of the four-unit building. The site plan for Lot 2 — the larger structure — includes a label that reads “donation center.” Architectural drawings show a “drop off” lane and a covered drop-off canopy on the north side of the structure.
Operating as the 2200 N Henderson LLC subdivision, Firsel and his firm are seeking a minor plat of the property at the June 20 meeting of the Galesburg Planning & Zoning Commission. According to the agenda, the Development Review Committee members reviewed the Minor Plat during their June 7 meeting and recommend approval and concur with the request to waive the installation of public sidewalk along Centel Drive and North Henderson Street.
It is anticipated this item will go to the City Council at their July 3 meeting for consideration.
The project listing says the corner of Henderson Street and Carl Sandburg Drive it “the best corner location in the market.”
Economic head: Galesburg has room for more retail
Ken Springer, president of Knox County Area Partnership for Economic Development, agrees with that assessment, telling WGIL, “It might be one of the best retail locations in the entire market.”
Springer points to strong traffic counts on North Henderson Street and easy-access and visibility from US 34. He also said multiple complimentary businesses in the immediate area will reinforce the new development.
Core Acquisitions, according to Springer, is an experienced property development company with projects in multiple states.
When asked if Galesburg has room for more retail grown, Springer said “absolutely.”
“It’s key to remember that our community actually pulls in consumer spending from outlying communities in addition to the spending from Galesburg’s resident population,” he said. “The more retail offerings we have, the greater will be our community’s ‘pull factor’ because that means there are more options to lure in outlying shoppers.
“It’s also important to remember that the tenants who are opening their businesses as part of this new development will have done considerable study and analysis before choosing to locate a store here.”
He added, “If there wasn’t a sufficient customer base in this market to support their new stores, they wouldn’t be locating in Knox County. These are market-driven decisions being made by private companies.”
