For many residents who have lived in Streeterville during the last 10 years, a visit to the Fox & Obel grocery store is a weekly ritual. Whether you are going to shop for gourmet foods or to grab breakfast or lunch at the cafe, the specialty food store is unique to Streeterville. We often will meet clients here or stop for lunch when we are in between property showings during the day. However, recent news that the store is behind on its rent payments could possibly lead to the retailer being evicted.
As of March, the store had reportedly missed more than $300,000 in rent payments (the store’s monthly rent is approximately $80,000 a month). The store opened in 2001 – right around when the building boom of south Streeterville was starting to take place.
Some speculate that the Dominick’s grocery store which opened during the last couple years and the Trader Joe’s grocery store in River North have hurt Fox & Obel’s business. The other existing grocery options in Streeterville include the Treasure Island grocery store in 680 N Lake Shore and the Potash Brothers market in John Hancock Center.
While the eviction is currently on hold for the short term, it is still unclear as to what the future of Fox & Obel will be. The store has changed ownership before since its opening, and there have been rumors of additional locations.
We certainly hope that the store remains open in Streeterville as it is unique to the neighborhood and can’t be found anywhere else in Chicago.
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