Oswego staff reports new store openings, pending leases and several active redevelopment sites

Economic development staff provided an update on recent and upcoming commercial openings, active listings and redevelopment sites across Oswego.

Completed or imminent openings reported included School of Rock; Smart Beginnings Academy (an early‑education user in a previously vacant building); and a Daiso store with a planned ribbon cutting the coming Saturday. Staff said Sketchers and a tenant called Candy Cloud (a beverage/boba concept) have signed leases or submitted permit plans and are expected to open later in the year.

Other projects noted: a Valvoline and Starbucks on Orchard Road are now open; gas and wash site work is moving to vertical construction; Braebourne is expected to begin construction in spring after EPA matters were resolved; HomeGoods has submitted permit plans and will come to the village board; and several outlots and retail spaces (including a Party City vacancy and an older single‑tenant gym building) remain available with active interest from brokers. Staff said party‑city and other vacancies are likely to attract leasing interest quickly because of the strong retail demand in the Prairie Market area.

Staff also described some properties that have attracted offers but not completed sales, and noted that Shodine Building 2 (an L‑shaped residential addition) will start construction this spring to add roughly 100 residential units and a parking structure; staff said resident parking will be fee‑based and some daytime spaces will be available for public use. For the large, single‑tenant former LA Fitness space, staff said the building is set up for a single occupant and has generated periodic interest but no new lease yet.

Why it matters: tenant mix changes and new residential inventory can shift local retail demand and influence the village’s strategy for attracting further investment and filling vacancies.