- Matt Ward
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In Vino Veritas
Is wine recession proof?
Business obviously is good for one retail sector niche market. Chicago-based Binny’s Beverage Depot is taking over a shuttered Circuit City store in west suburban Downers Grove and plans to convert it into their 23rd location.
Binny’s purchased the 31,000 SF big-box store, located at the intersection of Highland Avenue and Butterfield Road near I-88, for a bargain $3,000,000. The renovated building will feature an Italian deli, a bakery, a cooking demonstration area, a walk-in cigar humidor and a well-stocked wine bar.
The expansion-minded, family owned chain recently opened its 22nd store in northwest suburban Algonquin. (You caught at glance of a Binny’s in “The Dark Knight”, which was shot in Chicago.)
With millions of square feet of big-box space now on the market following the demise of retailers such as Circuit City and Linens ‘n’ Things, this is the sort of adaptive reuse the market needs.