<p> Safeway began with 72 Dominick’s stores and now just over 30 remain, according to the retailer’s real estate website. In early October, the retailer announced its intention to exit the Chicago market to continue “maximizing shareholder value,” said Robert Edwards, President and CEO. In fact, news of the sale drove Safeway stocks over 6% to above $33.50 in after-hours trading, beating its 52-week high of $32.72 and closing price of $31.57. Let’s take a quick look at what’s transpired since October and what the future may hold for the Chicago market…<img src="https://cdn.andnowuknow.com/legacyWriterImages/dominicks_pie_feb_2014_body_01.jpg" alt="Images 020714" /><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The first of the Chicago Dominick’s stores went to New Albertsons, Inc., which operates Jewel-Osco grocery stores. The company purchased four stores with plans to convert each one into Jewel-Osco. Although Jewel-Osco planned to retain about 450 workers, the move undoubtedly stunned loyal shoppers who were in danger of no longer having a convenient place to find groceries.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> In the months following, eleven stores went to Roundy’s in a $36 million transaction. Company executives, some of which included former Dominick’s employees, planned to convert the stores into Mariano’s.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Safeway was determined to sell the remaining 57 locations as quickly as possible to concentrate on areas where business was stronger. As shoppers lamented the loss of the permanent closure of Dominick’s, the city of Chicago formed a task force to find buyers for the remaining stores. Mayor Rahm Emanuel said the group will focus on the economic impact of the closings to ensure access to fresh produce around the city, while also supporting workers affected by the closings.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> With more than 50 locations still remaining, independent grocery chains like Garden Fresh Market, Pete’s Fresh Market, Cermak Fresh Market, IGA’s Joe Caputo & Sons Fruit Market, and various Centrella grocers swept up locations of their own. At least one vacated Dominick’s store each went to Garden Fresh Market, Pete’s Fresh Market, and Cermak Fresh Market, while as many as 10 went to Centrella grocers including Tony’s Finer Foods, Treasure Island, and Strack & Van Til, among others. IGA’s Joe Caputo & Sons Fruit Market purchased four Dominick’s stores.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Last but not least, various sources claimed that Whole Foods would acquire upwards of as many as 7 Dominick’s locations, leaving approximately 33 Dominick’s locations left.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Now that some of the stores have completed their transition under their new banners, what will become of the remaining closed Dominick’s stores, and who will purchase them?<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Stay tuned to AndNowUKnow as we follow the further sale of Dominick’s stores in Chicago. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.safewayrealtyholdings.com/pdf/Available%20Dominicks%20List%201-23-14.pdf" target="_new"> Remaining Available Dominick’s Locations </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
