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CHICAGO - Nash Finch Co. plans to take over a 106,000-square-foot building here for its Avanza Supermarket chain, which caters to Hispanics. The rest of the building will be leased to other retailers. City officials said the renovation will cost $6 million and generate at least 87 full-time, permanent jobs.
Avanza will occupy 41,000 square feet on Pulaski Street, a format that's smaller than a typical Jewel or Dominick's. But the format is still large enough to contain a full line of groceries and could prove to be significant competition, especially if the chain builds more stores to raise its profile among Hispanics.
The project will get a $1.17 million subsidy from the tax-increment financing program. The city's Community Development Commission approved terms of the deal Tuesday.
Alicia Berg, commissioner of the city's planning department, said the store will be the first of several Avanza markets in Chicago. Nash Finch executives were not immediately available for comment.
Nash Finch stores operate under the names Buy-n-Save, Econofoods, Family Thrift Center and Sun Mart. The Avanza concept is its newest and currently has only three stores in Denver.
Nash Finch is based in Edina, Minn., a suburb of Minneapolis, and owns about 100 stores as well as a food distribution business for independent retailers and military commissaries. Its annual revenues are about $4 billion.