Costco Set to Open Tomorrow
The I-355 Interchange's newest retail All-Star is set to come off the bench and take the field, further advancing the area as one of the largest retail locales.
Corporate giant and national warehouse chain extraordinaire Costco is set to open its doors to the public tomorrow morning.
Plans to complete the development of Costco in Bolingbrook could make the Boughton Road and I-355 intersection one of the most lucrative in the area.
Costco is set to open the wholesale superstore Thursday, bringing yet another corporate giant to the already retailer-heavy intersection.
"We will now have some of the largest retailers in the country – or possibly the world for that matter – all at one intersection," said Bolingbrook Mayor Roger Claar. "[Costco] will be a terrific sales tax generator that will help us continue to deliver the best city services to our residents."
Debate over splitting sales tax revenue with Woodridge—the development originally touched portions of the nearby municipality through a proposed curb cut on Woodward Avenue—nearly froze the deal, Claar said.
But plans have been altered so that Bolingbrook will now receive 100 percent of the sales tax revenue from the development, which will be entirely on Bolingbrook land.
Costco will anchor the northeast corner of the I-355 interchange and join national retail giants such as IKEA, Bass Pro Shop, Ashley Furniture, Meijer and Macy's, along with dozen's of other stores inside The Promenade Bolingbrook and surrounding outlets.
IKEA was the first major player, Claar said, breaking ground in 2004.
Since then, the area has grown considerably, with Macy's and The Promenade Bolingbrook opening in the last four years.
The interchange is one of the most accessible in the area, with I-88 just a few miles north, I-55 immediately south and the 2007 opening of the I-355 extension now connecting the southwest suburbs.
Claar said the village knew the land was important when it was annexed years before the major retail development movement began. Because of the land's value, the village waited for plans that would take advantage of the location's full potential, Claar said.
Claar said Costco will not only help increase revenue from the interchange area, but also bring in a sought after retailer that residents are excited about.
"I've been told by dozens of people how excited they are about this development," Claar said. "Costco has a huge following and they are one of the largest retailers in the country and obviously have a model that works very well."
Costco Wholesale is a membership warehouse club that specializes in selling various products at reduced price and usually in high volume.
Costco was ranked 219th on the Forbes Global 2000 list, which ranks the top 2,000 publicly traded companies worldwide on a number of figures—sales, profits, assets and market value—not just revenue. Macy's is ranked 525th on that list.
STORES Media, the communications arm of the National Retail Federation lists Costco sixth on its list of the United States' Top 100 retailers (based on sales), with Macy's 15th, Meijer 24th and IKEA North America 92nd.