LFI receives 2 yr extension on TIF agreement for Village of Dolton

FOR IMMEDIATE RELEASE

Dolton, Ill., Feb. 7, 2022 -- Location Finders International Real Estate (LFI) is announcing it has received the extension of the TIF agreement for the Villiage of Dolton, Ill., to be used for LFI to attract additional high-quality development to its center at the Northwest corner of Sibley Avenue and Greenwood Avenue.  

Location Finders International, Inc. is grateful for its long history of partnership with and commitment to the people of Dolton dating back to 1998 with the purchase and redevelopment of the long-blighted Kmart. 

Our accomplishments and contributions to the community include:

• In 2019, we saved Walgreens from closing their store by providing an over $2,000,000 rent decrease over the life of the lease. This also amounted to in excess of $1,600,000 in real estate paid to local taxing bodies over 10 years as well as significant sales tax.  Within a few weeks of reducing the rent, Walgreens announced that it was closing 200 underperforming stores nationwide. The rent reduction kept Dolton off the list.
• We invested $3,500,000 to improve the former Kmart for Ames only to have the chain liquidate due to its bankruptcy.
• In 2001 we opened Dollar Tree, Save A Lot Grocery, & Aarons.  Unfortunately, due to extensive vandalism in 2003 Dollar Tree, Save A Lot Grocery, & Aarons closed and the building had to be demolished.  

Despite the above, Location Finders did not give up on Dolton.  The aforementioned Redevelopment Agreement enabled the development of Food 4 Less, Walgreens, Dunkin Donuts, Global Storage, and AutoZone.  

LFI looks forward to continuing its presence in the Dolton community. 

About LFI

Founded in 1973 by Michael H. Rose as a full service real estate development company, located in Mokena, IL, LFI is a vertically integrated real estate company focused on the acquisition, development, and creation of innovative commercial real estate solutions for its real estate portfolio consisting of more than 100 properties across the U.S., with a concentration in the Chicagoland area, ranging from small to large size retail centers, medical office buildings, prime commercial buildings, single tenant retail with large national or regional tenants, to be developed properties, large manufactured home communities, industrial parks, and hotels, currently valued in excess of $500 million. For more information, visit the LFI Real Estate website www.lfirealestate.com/. 

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