The long-vacant Kmart store in Round Lake Beach has been purchased with plans to build a Target store, which village officials called a “major economic development.”
The Village of Round Lake Beach announced Monday that it was “thrilled to announce a major economic development milestone” in the village.
The long-vacant Super Kmart property, located at 400 East Rollins Road, has been sold to Target Corporation.
The acquisition marks the beginning of a significant revitalization project for the Rollins Crossing Shopping Center, village officials said.
The 190,000-square-foot building, which has remained empty since Kmart closed in December 2013, has led to residents and the village deeming it a community eyesore.
The Village of Round Lake Beach began taking steps to legally condemn the property but Target stepped in to acquire the property before the proceedings concluded.
The sale of the property to Target was finalized late last month.
Target did not immediately respond to a request for comment from Lake and McHenry County Scanner.
Round Lake Beach Mayor Scott Nickles said he identified the redevelopment of the vacant site as his primary goal after taking office in 2021.
“It took a lot of time, a ton of work by village staff and village attorneys, but we are delighted to be able to announce the first step of this goal has been completed,” Nickles said.
“This process has been more than a decade in the making, so we are thrilled to announce something is finally happening with this site. This is a great day for Round Lake Beach,” Nickles said.
Gil Rivera, the Director of Building, Economic and Community Development, said Target has already submitted permits to demolish the building.
Rivera said new construction timelines, architectural plans and other information are unclear at this point.
“We are pleased to see progress on the property and look forward to a plan that will transform the area as it begins to take shape,” Rivera said.
Nickles said that the village has long believed that Rollins Crossing Shopping Center, which is located along Rollins Road near North East End Avenue, could be revitalized into a project that serves as a true “village retail center” for the community.
“We are on the cusp of making it happen,” Nickles said.
In March, the Rollins Crossing Shopping Center was purchased by PMAT Companies, which said it had plans for redevelopment of the center.
The Rollins Crossing Shopping Center purchase included the outlot parcels occupied by Harbor Freight, Jersey Mike’s and other retailers. It did not include the former Kmart, which Target has purchased.