Empty Kmart: Property Sale Finally Nears In Joliet?

JOLIET, IL — At Joliet's busiest intersection, a mammoth parking lot and retail storefront has sat empty for more than three-and-a-half years, but that may be changing.

Interim city manager Steve Jones told Joliet Patch the vacant Kmart property may have a buyer at last. During a recent interview, Jones told Patch that the New York-based investment company trying to sell the Joliet Kmart has found a potential buyer.

The Kmart property is now "under contract," and the real estate deal could be finalized in the next 60 to 90 days, Jones said.

Jones said he is not at liberty to discuss the details of the redevelopment at this time because the real estate transaction has not been finalized.

In the past, Jones told Joliet Patch that he envisioned the former Kmart was a good candidate for a mixed-used development.

During a March 2019 interview with Joliet Patch, Jones remarked: "My opinion is that a mixed-use development consisting of smaller retail space in the front and perhaps multi-family or senior housing in the rear would be marketable."

In his recent interview, Jones told Patch: "I've always thought that a mixed-use could work out there, but right now, I would describe (the pending sale) as being a 100 percent commercial use. "

Jones said there has been a lot of redevelopment interest in the Joliet Kmart property given its location. He thinks there's a good chance that the sale will happen.

"I'm optimistic," Jones told Patch. "The Kmart has very interested parties.

"It's on a major corridor. It's the busiest intersection in Joliet. There's plenty of people and plenty of out-lots. The question always is, 'What's the market? Who is out there as a consumer and what will they buy?'"

After Jones served as village administrator in Oswego, Joliet hired him in 2015 to serve as the city's economic development director. As recently as Tuesday night, Mayor Bob O'Dekirk praised the work of Jones in that capacity, saying Jones did a great job of bolstering the city's economic development efforts.

Since June 2019, however, Jones has served as Joliet's interim city manager, following the ouster of Marty Shanahan.

This week, Jones announced he is stepping down and leaving Joliet in August.

Jones had recently told Patch that the Joliet community will view the Kmart project "as a positive" if the pending land sale moves ahead.

Joliet has redeveloped a number of high-profile vacant buildings during Jones' time with the city.

Last November, Joliet celebrated the opening of the new Pottery Barn Outlet store at the empty Gander Mountain store near the Louis Joliet Mall.

In January, Joliet Patch broke the news that the former Ultra Foods grocery store on Larkin Avenue was purchased to become a Vasa Fitness center.

In February, just up the road from the empty Kmart, Joliet celebrated the grand opening of the new Panera Bread restaurant inside the former Applebee's property.