World's Largest Retailer Goes Small

Walmart lands space in Lakeview for upcoming "Neighborhood Market"

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    NEWSLETTERS

    TK
    flickr.com, Rusty Boxcars

    The world's largest retailer, known for its big box stores, is reportedly going small.

    Walmart has struck a deal to lease about 30,000 square feet in a three-level retail center in Chicago's Lakeview neighborhood, Crain's Chicago Business reported Thursday, citing sources.

    The store, to be located in the building that's currently home to T.J. Maxx and Bed, Bath & Beyond, near North Clark Street and West Diversey Parkway, will be a "Neighborhood Market" and is just one of several cites in which the company plans to invest.

    The Bentonville, Ark.-based company said it plans to open small stores in urban areas, believing that people will prefer to shop in their immediate vicinity, rather than spending the time and money commuting to stores farther away.

    "I think this store will compete most directly with Aldi, with Trader Joes and basically with Walgreens and CVS and drug stores," said Crain's reporter Eddie Baeb in a video discussion posted online.

    The backlash has already begun, however. A group called "Stop the Lakeview / Lincoln Park Walmart" has already popped up on Facebook.