L.L. Bean Starts Midwest Push with Arboretum

SOUTH BARRINGTON, IL- L.L. Bean is expanding into the Midwest and has chosen the Chicago suburbs for its first Midwest location. The retailer has said it plans to expand to operating 32 stores by 2012. This year, the company will open two stores in the Midwest in addition to a location in Pennsylvania and possibly a store in upstate New York, says a company spokeswoman.

The retailer has chosen the Arboretum of South Barrington as its first Chicago area location. The company signed a lease for a 30,000 sf store at the property, a 600,000-sf lifestyle center at the intersection of Illinois Routes 59 and 72. The term of the lease for L.L. Bean is 15 years, says Michael Jaffe, president of Jaffe Cos.

The location will be the company’s 11th store and the first store that is not in the Northeast corridor, the spokeswoman says. The Chicago area was chosen because L.L. Bean already has a large customer base here, she says. South Barrington “is some place that did have an appeal to us with the new lifestyle center as well as the location within Chicago,” she says.

Jaffe Cos., based in Northbrook, IL, is developing the lifestyle center with Rreef being a capital partner. The $200 million project is being constructed on an 86-acre parcel that is the site of a former tree nursery and less than a mile from Interstate 90. “The Arboretum distinguished itself for L.L. Bean because of its proximity to the highway and the four-way interchange at Interstate 90, the quality of the project, the caliber of the co-tenancy and the architectural and landscaping detail,” Jaffe says.

The store will have environmentally-friendly features such as natural light, recycled brick and some recycled slate for the roof in addition to energy efficient mechanical systems, Jaffe says. L.L.Bean and the rest of the first phase of the center, approximately 500,000 sf, are expected to open in September, Jaffe says.

The first phase is approximately 70% pre-leased, he tells GlobeSt.com. Other major retailers include Arhaus, Chico’s, White House/Black Market, Victoria’s Secret and Limited Too. Village Roadshow Gold Class Cinema signed a 15-year lease for an eight screen theater. Restaurants and eating establishments will include Pinstripes Bowling/Bocci Bistro, Noodles & Co., Panera Bread and Potbelly Sandwich Works, Jaffe says. The asking lease rates range from $30 per sf to $45 per sf net. The center’s second phase will have approximately 100,000 sf and will likely open in 2009 or spring 2010, Jaffe says.