Approved CTA leases means new convenience, shoe stores

The Chicago Transit Authority approved a five-year lease of a storefront near the Purple Line’s Central Street station, 1024 Central St.

The new tenant plans to open a convenience store in the vacant space, said CTA spokeswoman Robyn Ziegler. Ziegler said there is not yet a projected opening date for the store.

The retail space is next to the rail station and has a separate entrance. These storefronts are not like some doughnut stores or news stands, which are inside CTA stations.

The CTA approved six other long-term leases and one month-to-month lease, bringing the total number of storefront leases near train stations in Chicago to 42.

Except for the Central property, the new storefronts are all near Red Line stations on the North Side. They include a news stand, a shoe store and a real estate and tax service.

CTA officials expect the leases to bring in more than $1 million in rent and capital improvements over the next five years.

As part of the agreement, the tenant will pay for upgrades such as electrical and plumbing improvements and new windows, shelving, flooring and ceilings, CTA officials said.

The tenant must also work with the Evanston City Council to secure the proper permits and to pay fees.

Vendors bid competitively for contracts with CTA, Ziegler said. The total contract value combines the bid rent and the amount of capital upgrades the bidder proposes. CTA rents are based on an analysis of the fair market value of the neighborhood surrounding the station, Ziegler said.

Two vendors bid for the Central storefront, she said.

The space was formerly a construction office for Evanston Hospital, 2650 Ridge Ave.

— Beth Murtagh