Menards closes on purchase of Hickory Hills property

Menard Inc. closed late last week on the purchase of the former Hickory Hills School property from Springfield Public Schools.

The Eau Claire, Wis.-based home improvement retailer paid $4 million, minus closing costs and miscellaneous fees, for the 15.2-acre parcel just east of U.S. Highway 65 on Chestnut Expressway, according to a news release.

After the school board approved the purchase contract Aug. 12, Menards officials signed it Aug. 19 and closed on the acquisition May 15. The Hickory Hills School was on the property until January 2010, when students moved to a newly constructed building at 4650 E. State Highway YY.

Menards plans to build a retail and commercial shopping center at the site to be anchored by its own store. However, its plans at the property stretch further back than the August purchase agreement.

Menards had been an anchor tenant candidate at the Hickory Hills property when developer Paul Larino was planning a 46-acre development known as Hickory Hills Marketplace. However, a deal never came to fruition, and the developer walked away from the project, according to Springfield Business Journal archives.

The home-improvement chain also is planning a west-side Springfield store at Sunshine Street and Zimmer Road, where City Council this month approved a zoning change to make way for the retailer. The property sits just north of the planned $78 million Springfield Plaza retail and office complex.[[In-content Ad]]