U. of C. responds on Treasure Island site

 

To the Editor:

Your April 17 editorial calls on Ald. Hairston to share with her constituents why a new grocer for the former Treasure Island space has not yet been announced.  This is a question better directed to the University of Chicago.  As the owner of the property, we have been working diligently to secure a new grocery store in that space and have been negotiating with a prospective tenant over the past few months. Our goal was to complete negotiations and announce the new grocer at the end of March, but real estate leasing negotiations at this scale are complex and time intensive and negotiations are still ongoing.

During this process we are bound by confidentiality agreements that do not allow us to disclose any information about the potential tenant or lease.  It’s important to note that no external parties, not even the alderman, have been privy to these confidential negotiations.

We anticipate an announcement regarding the new grocery store tenant in the coming weeks and ask for your continued patience as we work to wrap up negotiations.

Sincerely,

Derek Douglas

Vice President for Civic Engagement and External Affairs

The University of Chicago